SEATTLE–(BUSINESS WIRE)–March 23, 2020–
Lighter Capital, the chief in offering development capital to tech startups, immediately introduced it’s making its debt financing choices, together with term loans and lines of credit, out there to the Canadian market. The growth of Lighter Capital’s debt-financing enterprise will present Canadian entrepreneurs with an alternative choice to conventional fairness sources equivalent to enterprise capital or financial institution financing.
Lighter Capital is a fintech firm that has created a brand new fundraising path for early-stage tech corporations. Lighter Capital supplies founders as much as $Three million of non-dilutive development capital in a fraction of the time it takes to lift from conventional sources. Rather than take fairness, the corporate takes a proportion of month-to-month revenues over the lifetime of the mortgage. Unlike conventional funding sources, Lighter Capital doesn’t require board seats, warrants or personal guarantees from its debtors. Since 2012, Lighter Capital has invested over $200 Million in additional than 350 U.S.-based startups in over 650 rounds of financing. Twenty % of those corporations have had a profitable exit, equivalent to Jive Communications, MapAnything, and Steelbrick.
“There’s no question that debt is the most cost effective form of capital for early stage companies,” acknowledged Thor Culverhouse, CEO of Lighter Capital. “Equity is comparatively very expensive, especially for early-stage entrepreneurs. What we’ve done is create a fast, easy way for revenue-generating startups to access financing without having to give up any equity or control.”
Lighter Capital is already in lively discussions with Canadian startups and can open an workplace in Vancouver in April with a devoted crew centered on rising its presence in Canada. Lighter Capital has additionally partnered with the Canadian outpost of the Founder Institute, the world’s largest startup accelerator, as a way to present startups with the recommendation and help wanted to develop their corporations.
“We have been fortunate to have mentored more than 200 tech CEOs and helped launch their companies,” acknowledged Sunil Sharma, Managing Director of Techstars Toronto and Chapter Director of the Founder Institute Toronto. “With the arrival of Lighter Capital, we see an immediate alignment with the kind of tech startups that Canada has been producing with such success and we are excited to be working with them.”
Tapping right into a Growing Market
Tech has been one of many quickest rising sectors in Canada lately, with cities throughout the nation placing Canada’s tech business on the map. According to a examine printed by the CVCA, there was a 69% improve in VC funding in 2019 with $6.2 Billion invested in over 539 offers vs $3.7 Billion invested in 2018.
Lighter Capital’s debt-based financing represents an alternative choice to VC financing for early stage startups post-seed which might be making an attempt to fund development initiatives with out dilution. Additionally, Lighter Capital’s funding is complimentary for these startups which have already taken VC funding and are between rounds.
“With the Canadian tech industry’s continued growth, we’re seeing a correspondingly greater need among startups for access to venture capital as well as to various forms of debt financing,” acknowledged Meredith Powell, Vancouver-based enterprise associate at Voyager Capital, an investor in Lighter Capital. “Lighter Capital is a trailblazer in the area of debt-based financing and I have little doubt that, given the increasing demand for their services, they’re positioned for success across the nation.”
About Lighter Capital
Lighter Capital (https://www.lightercapital.com/) has revolutionized startup financing by making it straightforward for entrepreneurs to rapidly entry as much as $Three million in development capital and dealing capital with zero dilution and full management over learn how to use the funds. Lighter’s fintech platform pulls in 6,500 knowledge factors, makes use of proprietary algorithms to find out a credit standing and knowledge science to foretell a startup’s income development with 97% accuracy, on common. Lighter Capital has offered over $200 Million in 350+ startups in over 650 rounds of financing, together with MapAnything, Jive, Quip, and extra.
Lighter Capital affords a mixture of entrepreneur-friendly product offerings-including time period loans with pre-approval for a ahead dedication and features of credit-to empower early-stage tech startups with the pliability they should fund the enterprise at totally different levels of development. More at www.lightercapital.com.
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Michael Lindenberger / Lindy PR
Phone: (415) 531-1449
Email: [email protected]