Case Study:

Tax preparation company

Working with Raistone, this tax preparation company accelerated the payment of fees owed to them and helped double their revenue month over month. Instead of waiting over six months to get paid, Raistone closed the working capital gap for them which, as a fast-growing young company, needed its own liquidity to fund its business, and to invest in technology and talent.

How Raistone helped double revenue month over month

In the wake of the Covid-19 crisis, this U.S.-based tax preparation company saw a tremendous need for its services, which help advance government payments to small- and medium-sized businesses (SMBs). However, the company was unable to scale without quick and considerable access to capital.


They turned to Raistone for liquidity to fund operations, and to invest in technology and talent.


Upon collaborating with Raistone, the company saw its gross revenue surge a staggering 250% from Q4 2021 to Q1 2022. They were only able to keep up with that growing demand thanks to creative structures provided by Raistone.


In selecting a funding partner, the CEO of the tax preparation company spoke with dozens of credible groups, but found that only a handful were willing to meaningfully discuss the program, which helps SMBs claim significant financial incentives from the government, including Employee Retention and Research & Development Credits. About a third of the way into the due diligence phase, it became abundantly clear to their team that only Raistone could provide the speed and scale needed for their business.

The Raistone custom-tailored solution

With a revolving receivables purchase program from Raistone, each tax filing is accompanied by a tax credit certificate — a written payment undertaking from the SMB — evidencing their unconditional payment obligation. It is then is sold to investors through Raistone’s curated marketplace.


About this innovative non-debt facility:
• Began at $3.5 million in 2021.
• Is expected to grow to more than $100 million in 2022.


For the tax preparation company:
Total deal count increased 178% from October 2021 to March 2022.
Growth is expected to continue throughout 2022 and beyond.
Strong relationship continues with Raistone.

The company collects for their services only after their client receives the actual tax refund. This accomplishes maximum preservation of the SMB’s liquidity, but it also creates a working capital challenge for the tax preparation company which, as a fast-growing young company, needs its own liquidity to fund its business, and to invest in technology and talent.


With funding provided through Raistone, the tax preparation company was able to capitalize quickly on a tremendous need for liquidity within the U.S. economy. The relationship continues as the client’s growth and need for working capital remain.


According to The Wall Street Journal, only 5% of companies that qualify for an Innovation Tax Credit actually claim it.  Raistone’s client saw opportunity to bring these credits to more businesses in a manner that is quicker and easier than ever before. Demand for its services spiked, and without the unique structure offered by Raistone, the tax preparation company would not have been able to grow, to meet demand, or continue to provide services.

We would have no company without institutional funding, which is provided by Raistone. To say that it is literally oxygen to us wouldn’t be an understatement. You can’t live without oxygen.

My problem is growth. The growth of my business kills me. Raistone is responsible for the entire ability of my company to exist.


– CEO of a tax preparation company

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