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Lighter Capital Closes $9 Million Series B Funding Round, Raises $100 Million to Lend to Tech Startups

Lighter Capital Closes $9 Million Series B Funding Round, Raises $100 Million to Lend to Tech Startups

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Lighter Capital made a two-fold funding announcement last week. First, the Seattle-based company closed $9 million in Series B funding. Investors include:

  • Voyager Capital
  • Summit Capital
  • Individual investors, including Lighter Capital’s Chairman, Jeff Seely

Lighter Capital plans to use the funds to advance its platform and double its 23-person team. Today’s $9 million installment, combined with the company’s $6 million Series A round, brings its total funding to $15 million.

In addition to this, Lighter Capital raised $100 million to furnish 500 tech startups with capital. The funds, which come from Community Investment Management, will help Lighter Capital increase its investment cap from $1 million to $2 million.

Lighter Capital was founded in 2010. This year, it has increased investment funding to an average of six businesses per month. In total, the company has provided funds to 75 small businesses, including Finovate alum, Cloud Lending.

BJ Lackland is CEO of Lighter Capital, which debuted its Revenue Loan at FinovateSpring 2011 and last demoed at FinovateFall 2013.