The physical border between the U.S. and Canada may be closed, but that’s not stopping tech startup financing provider Lighter Capital. The Seattle-based company announced today it has launched its services in Canada.
Canadian businesses can now take advantage of Lighter Capital’s debt financing offerings, including term loans and lines of credit, as an alternative funding source from bank loans and VC funding. Both debt financing options offer companies up to $1 million in capital.
The company’s flagship offering, Revenue Financing, will not yet be available to Canadian businesses. Lighter Capital’s Revenue Loans help borrowers access up to $3 million in loans that they repay based on their monthly cash inflow.
“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,” said Meredith Powell, Vancouver-based venture partner 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.”
Fueling its Canadian expansion, Lighter Capital will open an office in Vancouver, British Columbia. The company is also partnering with the Canadian branch of the Founder Institute, a startup accelerator.
Founded in 2012, Lighter Capital has offered more than $200 million to 350+ U.S. startups. Of those, 20% have had successful exits.