RevenueLoan is now Lighter Capital
RevenueLoan, an alternative financing service for entrepreneurs, is changing its name and broadening its focus. Founder and CEO Andy Sack writes about the name change and hints at the larger implications in this blog post, which says the Seattle-based startup’s team has “realized there’s a lot more opportunity to disrupt the small business growth capital and lending incumbents.”
RevenueLoan debuted about a year ago, centered around an investment approach known as revenue-based financing. Basically, investors get a portion of future revenues in exchange for their capital, rather than equity or debt to a traditional bank. As Sack wrote a bit earlier on his blog, he’d determined that a change was in order because that particular investment vehicle was likely “a product and not a company.”
RevenueLoan previously raised $6 million from Voyager Capital, Summit Capital, and Founder’s Co-op, the seed-stage firm helmed by Sack and Chris DeVore.