Lighter Capital, a leading pioneer of the revenue-based financing model, today announced that it has made three new investments in small technology businesses, including BinaryWave, HarborCloud, and TheDatabank. With these new investments, Lighter Capital’s portfolio grows to 16 companies and 21 total financings amounting to $2.3 million.
“Alternative forms of funding such as Revenue-Based Financing are rapidly gaining appeal among small businesses that aren’t a match for bank debt financing or venture funding,” said Rob Belcher, Principal of Lighter Capital. “The Revenue-Based Financing model can provide capital now to help small businesses grow to that next level, while avoiding dilution, loss of company control, personal guarantees, or fixed repayment schedules. This kind of financing aligns the goals of the investor and the business owner towards mutual success.”
BinaryWave, based in Dallas, Texas, specializes in providing managed services and products for the support, administration and optimization of Microsoft SharePoint Products and Technologies. Companies across a wide range of industries, from healthcare to government, engineering, construction, energy, real estate and technology rely upon BinaryWave to maintain and manage their SharePoint ecosystems.
Bellevue, Washington-based HarborCloud is an ASP with a focus on hosted virtual desktop solutions such as QuickBooks, PeachTree, and Act!. HarborCloud manages the data, software upgrades, and equipment, as well as provides first level technical support to its clients.
TheDatabank, headquartered in Minneapolis, Minnesota, provides nonprofit organizations with affordable relationship management software solutions that are custom designed to help them develop and sustain long-term ties with their supporters.
As a pioneer in providing revenue-based loans to startups, Lighter Capital is responsible for bringing the funding application and negotiation process online – enabling applicants to have complete visibility into every aspect of the evaluation process.
“Negotiating a term sheet with Lighter Capital was extremely easy as most of the process is managed online – from initial inquiry, to deal terms and verification of company funds,” said Eric Shupps, Founder and President of BinaryWave. “Instead of engaging in a funding process that takes months to complete, we were able to secure financing from Lighter Capital in just a few weeks. As a small business owner that wears many hats, I appreciate this type of interaction because it gives me the ability to focus on other aspects of running my business – not just the funding component.”
About Lighter Capital
At Lighter Capital, we’re breaking down the barriers to small business growth funding. Our revenue-based finance model exchanges growth capital for a fixed percentage of the company’s revenues. This structure is more flexible, easier, and faster than traditional lenders, making us “lighter” than the marble and mahogany of the antiquated banks. Since late 2010, Lighter Capital has funded a range of businesses – from goat-milk ice cream to Software-as-a-Service – all excellent businesses that have been overlooked by traditional banks and venture capitalists. Lighter Capital is a venture-backed, non-bank investor of its own funds, not a broker or intermediary. For more information, or to apply, visit: http://www.lightercapital.com/