Identitii
.png)
How Identitii Used an R&D Loan to Plan Ahead of Growth
When a company moves from proof-of-concept into commercial execution, the challenge isn’t just finding cash, it’s finding it early enough, predictably enough, and in a way that supports what comes next.
That’s the position Identitii found itself in as its BNDRY platform moved from proof-of-concept into commercial execution. The demand was real. The customers were live. The roadmap was clear.
For Identitii's leadership team, it wasn’t about scrambling for capital. It was about planning ahead to ensure cash flow kept pace with growth, preserving flexibility, and avoiding unnecessary dilution, all while staying focused on delivery.
.png)
.png)
About Identitii
Identitii is an Australian technology company leading the way in secure, intelligent financial data exchange. Their flagship product, BNDRY, is a risk and compliance platform that helps organisations manage financial crime by bringing customer onboarding, monitoring, and reporting into a single system.
Instead of relying on multiple tools or manual processes, teams use BNDRY to verify customers, monitor activity for risk, report compliance outcomes, and securely store required data, all in one place.
For regulated businesses, particularly those outside major banks, BNDRY replaces fragmented workflows with a unified, automated approach to staying compliant, reducing risk, and freeing teams to focus on higher-value work.
Identitii's growth
Over the past six months, Identitii had done the hard work most start-ups struggle to reach. The team engaged a large, underserved market across Australia’s clubs and pubs sector. They designed and launched a production-ready solution, secured nine proof-of-concept agreements, and attracted interest from more than 100 venues.
Then came the inflection point. Proof-of-concepts converted, commercial contracts followed, and usage-based revenue went live. Suddenly, Identitii wasn’t validating an idea, it was executing at speed, and execution requires certainty.
The funding challenge
Like most innovation-led companies, Identitii invests heavily in product and platform development long before usage-based revenue catches up. At the same time, the business was accruing a meaningful Australian R&D Tax Incentive refund; capital it had already earned but wouldn’t receive until after tax time.
For Identitii, the challenge was timing. How could the business turn future R&D returns into predictable cash flow today, without slowing execution or giving up equity?
Through working with Kashcade, Identitii unlocked a solution that did exactly that.
Creating a balanced funding strategy
Rather than relying solely on equity funding, Identitii chose to incorporate an R&D loan into its broader capital mix. This wasn’t reactive fundraising, it was strategic planning.
Through Kashcade, Identitii secured a $640,000 R&D loan facility, unlocking a portion of its future R&D refund immediately and converting it into working capital the business could deploy right away. The loan was structured to be repaid directly from the FY25 R&D refund once received, in one single, easy repayment. This meant:
- Access to working capital without giving up more equity
- Predictability of cash flow during a critical execution phase
- Freedom to focus on delivery rather than distraction from fundraising
What the R&D Loan enabled
The R&D loan gave Identitii exactly what growing companies need at critical moments: certainty. With capital in place, the team could:
- stay focused on delivery,
- support existing customers,
- onboard new commercial contracts.
The funding worked alongside Identitii’s broader capital plan, creating a balanced funding mix that supported growth with out over-reliance on any single source.
Why Identitii selected Kashcade as their funding partner
For Identitii, speed and a straightforward process weren’t nice-to-haves, they were essential.
Kashcade’s R&D loan process was designed specifically for companies building in complex, fast-moving environments. From application to funding, the experience prioritised transparency, clear terms, and fast loans.
"We’ve arranged enough funding to secure a strong future for Identitii at a time when sales of our BNDRY platform are really taking off. Beyond our FY25 R&D refund, we’ve found a partner that can support us right across our growth journey.” said John Rayment, CEO of Identitii.
For Kashcade, Identitii represents exactly the type of business R&D loans are built for: innovation-driven, commercially executing, and focused on building long-term value.
“Identitii is a great example of a company using R&D-backed funding as part of a balanced capital mix. By accessing capital they’ve already earned, they’ve been able to move quickly and stay focused on execution, which is where growing companies win or lose.” said Alex Simmons, CEO of Kashcade.
The takeaway for founders
Scaling a business isn’t just about raising capital, it’s about structuring it in a way that matches execution timelines, preserves equity, and lets teams keep their eyes on the customer and product.
For Identitii, blending equity, innovation funding, and R&D-backed debt created the right rhythm of funding.
Interested in how much your business could borrow? Try our funding calculator below.