Extraordinary
Unlocking Cash Flow for a Company Doing Extra–Ordinary Things
Client
Services
Sector
Year
Extraordinary
R&D Tax Incentive, R&D Loss Tax Credit
Software & IT
2025
Overview
Extraordinary is reimagining employee benefits, giving businesses a smarter way to support their teams with flexible, non-payroll perks. Through Extraordinary’s platform, app, and card, companies can offer allowances for wellbeing, learning, transport, and more—without the admin hassle.
As they pushed their product forward, Extraordinary saw an opportunity to access R&D Tax Credits—covering both the R&D Tax Incentive (RDTI) and R&D Loss Tax Credit (RDLTC). But navigating the complex process wasn’t where they wanted to spend their time.
That’s where Swell came in, managing the entire application and unlocking more than $900,000 in tax credits (the majority of which was paid in cash) over the past two financial years—enabling the team to stay focused on doing extra-ordinary things.
About
Challenges
Growth Hinges on Cash Flow
Extraordinary’s ability to scale was directly tied to cash flow. Unlocking non-dilutive funding through R&D tax credits could help fuel product development and expansion—if they could access them.
No Time to Spare
As a lean, fast-moving team, Extraordinary couldn’t afford to divert focus. Every hour spent wrangling with tax legislation was an hour not spent improving their platform or supporting customers.
Lack of Internal Expertise
Understanding eligibility rules and compliance requirements for R&D Tax Credits isn’t straightforward. Without a specialist on hand, the risk of errors—or missing out altogether—was high.
Why Swell
Extraordinary turned to Swell to take the weight of the RDTI and RDLTC process off their shoulders—and that’s exactly what we did.
With Swell, Extraordinary saved countless hours that would have otherwise gone into understanding the legislation, compiling documentation, and managing the claims. Just as importantly, they had confidence that no eligible R&D expenditure was being left on the table.
Swell’s depth of experience meant the claims were not only compliant—they were complete. That gave Extraordinary peace of mind and let them keep their focus firmly on their mission of empowering employees and employers through modern payments.
Impact & Value
Swell’s support delivered tangible value to Extraordinary Pay—financially and operationally.
Cashflow Injection
Across two financial years, Extraordinary unlocked more than $900,000 in R&D Tax Credits—non-dilutive capital that directly boosted their runway.
Fuel for Expansion
The funding helped Extraordinary grow their team and invest in new product development—accelerating their mission to modernise employee benefits.
Time Saved
By handing the process over to Swell, Extraordinary avoided the administrative burden of R&D tax claims. That meant more focus on building their platform and less on paperwork.
Conclusion
Extraordinary had the innovation—and Swell brought the funding expertise to match. By managing the R&D Tax Credit process end to end, we helped them unlock more than $900,000 in non-dilutive capital over the past two financial years, providing a meaningful boost to their growth.
On Swell's Expertise
"From the start, it was clear we were in safe hands. The Swell team really knows their stuff—they understood our business quickly, guided us through both the R&D Tax Incentive and the R&D Loss Tax Credit with confidence, and gave us full trust that nothing would be missed. It was like having a specialist extension of our team." — Steven Zinsli, CEO, Extraordinary
On The benefits