Enterprise capital different Lighter Capital has a $30 million warfare chest to lend to native startups because of assist from the Victorian authorities and iPartners.
The 13-year-old revenue-based Wall Road financier provides non-dilutive funding to founders within the US, Canada and Australia. Make investments Victoria tipped $10 million into the $30 million fund, supported by New York funding agency i80 Group.
Lighter additionally put collectively a $100m fund within the US and Canada.
The enterprise lends to early-stage firms in SaaS, expertise companies, subscription companies, and digital media with out taking fairness. The corporate has additionally opened new workplaces in Australia
Startups can leverage their income for as much as $4 million in financing, and in addition rating entry to the Lighter Capital Group, a free networking useful resource the place founders collaborate with like-minded CEOs, achieve capital accomplice connections, and obtain as much as $100,000 in product/service reductions.
Lighter Capital CEO Melissa Widner mentioned that whereas it’s a difficult time for startups searching for capital, her enterprise provides an alternate supply of funding that doesn’t require pitch decks, private ensures, or fairness in a quicker turnaround time and demand is rising
“After greater than a decade in enterprise, 2022 was our greatest 12 months within the firm’s historical past,” she mentioned.
“It’s a terrific privilege to assist founders obtain their desires on their phrases by offering funding that doesn’t require promoting fairness or giving up management.”
The non-dilutive choices embrace revenue-based financing with adaptable fee phrases, time period financing that includes mounted month-to-month funds, and contract financing, which provides upfront capital for longer-term contracts, with fee phrases spanning as much as three years.