Case Study: Fund My Dental

About Fund My Dental

Fund My Dental is a dental insurance agency based in Perth, Western Australia, founded in 2020 by two dentists and friends, Dr Kris Thyer and Dr Kav Caldera. At the core of what they do, Fund My Dental helps Australians access private dental care affordably and efficiently by connecting dental patients with practices. Their interactive dental diagnosis platform simplifies the process of checking dental symptoms, getting estimated costs, booking appointments and applying for finance.

Dr Kris and Dr Kav, both successful dental practitioners, recognised the barriers many Australians face in accessing private dental care due to cost and the lack of existing payment plan providers. Seeing a gap in the market, they created tailored dental finance solutions that addressed these issues, helping more Australians get the dental treatment they need while improving the profitability of dental practices. Fund My Dental’s ‘by dentists, for dentists’ approach has been well-received in an industry often resistant to external solutions.

The Challenge

As Fund My Dental grew from an idea around a dining room table to a successful business with growing traction, their accounting needs became more complex. They faced the challenge of finding an accountant who could provide comprehensive services and support their ambitious growth plans. Dr Kris and Dr Kav realised they needed an accounting firm that not only could handle their growing financial requirements but also understood the dental industry, offered a fresh perspective to accelerate growth and had a corporate mentality with relevant contacts.

How Carbon Helped

Fund My Dental engaged with Carbon’s Accounting & Tax Partner, Matthew Vaughan-Davies, who provided comprehensive accounting and tax solutions. Matthew restructured their business to deliver clear personal and business benefits. His detailed explanations and innovative approach have made him an integral part of the team. Aside from business restructuring, Matthew assisted Fund My Dental with effective tax planning strategies and tax compliance, ensuring that Dr Kris and Dr Kav could make informed decisions at every stage of their growth.

As part of the Carbon network, Fund My Dental also connected with Josh Dearle, our R&D and Grants Partner. Josh facilitated significant rebates through the R&D Tax Incentive, making the complex claims process stress-free and highly beneficial. This financial boost was instrumental in Fund My Dental’s continued success.

Additionally, Fund My Dental rents office space at Carbon Group, which has created an exceptional atmosphere for their growing team. Sharing a space with Carbon has facilitated organic collaboration, real-time problem-solving and idea-sharing. This proximity has also connected Fund My Dental with external professional services, such as legal support. Through Carbon’s vast network, they have gained access to trusted legal advisors, helping them navigate compliance and contracts.

This holistic support system allows Fund My Dental to focus on their core expertise while relying on Carbon for other essential business needs.

Carbon Services

Fund My Dental has grown rapidly since partnering with Carbon. From initially operating only in WA, they have now expanded Australia-wide with much more growth anticipated. The company has also successfully raised capital and made its first hires, with Carbon’s assistance. This partnership has allowed Dr Kris and Dr Kav to focus on their core strengths in product development and marketing to dentists, confident that Carbon’s team has the knowledge and passion to support them through every stage of their business lifecycle.

Accounting & Tax

• Business Financials & Tax Returns
• Tax Planning
• Business Structuring
• Business Advisory
• Individual Tax Returns

R&D and Grants

• Identifying and scoping R&D activities
• Reviewing internal documentation to substantiate the claim
• Preparing R&D project documentation
• Prepare and lodge the Application for Registration
• Calculating eligible R&D expenditure
• Preparing the ATO R&D Tax Schedule
• Responding to requests for information

Ready To Take Your Business To The Next Level?

Fund My Dental’s success story with Carbon demonstrates the significant impact of having the right financial advisors. From accounting and tax to R&D, Carbon has provided the essential support needed for Fund My Dental’s growth. If you’re looking to take your business to the next level, consider partnering with Carbon. We focus on more than just numbers, we aim to help you achieve your business goals.