SEATTLE & ORANGE, Calif.--(BUSINESS WIRE)--Lighter Capital, the leading fintech lender to tech startups, today announced that it has provided an additional $555,000 to ListReports, a four-year-old startup based in Orange, California. ListReports is dedicated to fulfilling the brand promise of delivering technology that makes the home buying and selling process a delightful experience.
The new funding is the seventh tranche of financing Lighter Capital has provided the tech startup, dating back to 2016, with a total of $2.042 million in funding to date. Since the initial Lighter Capital investment, ListReports has grown at an unprecedented rate, increasing its revenue by 1,100 percent.
“With this most recent round of financing, we’ve now provided ListReports with more tranches than any other Lighter Capital client,” said BJ Lackland, CEO of Lighter Capital. “Since day one, ListReports has been on an upward trajectory, showing continuous growth, while building out a sustainable business model. We’ll happily provide them with the financing they need to become a dominant force in the real estate technology market.”
"Lighter Capital has been more than just a lender to us, they've been a loyal partner,” said Randy Shiozaki, Co-founder of ListReports. "From our first tranche of $50,000 in 2016 to a total of over $2 million today, Lighter Capital has helped us grow by 11x - without diluting our ownership."
Lighter Capital has also today announced that it is increasing its funding limits from $2 million to $3 million in capital. Lighter Capital was one of the first lenders to use revenue-based financing to fund tech startups. Since 2010, Lighter Capital has funded more than 270 companies, providing over 450 tranches and $125 million to early-stage tech startups – becoming the highest volume funder of SaaS companies.
After nearly a decade of helping entrepreneurs fund their projects, while also successfully receiving return on their investments, Lighter Capital will now be offering companies up to $1 million per tranche and $3 million in total financing, helping startups get to the next level - without giving up equity or control of their company. Lighter Capital can provide funding to qualified companies in about 4-6 weeks, using a protected online application process.
“As more and more tech entrepreneurs discover alternatives to equity-based venture funding, we realized the need for even more significant financial commitment,” Lackland said. “The reality is, most banks won’t fund small, early-stage tech startups, and venture capitalists demand significant equity in the company. By increasing our loan amounts by 50 percent, we can ensure burgeoning tech startups can rapidly expand and get ahead of competition.”
For more information about Lighter Capital, or to apply for financing, visit www.lightercapital.com.
For more information about ListReports visit www.listreports.com.
About Lighter Capital
Lighter Capital is a fintech company that has created a new fundraising path for early-stage tech companies. We understand that an entrepreneur’s two greatest constraints are time and money, and we’ve developed a funding instrument that solves for both. We provide founders up to $3 million of non-dilutive growth capital in a fraction of the time it takes to raise from traditional sources. Based in Seattle, we've invested nearly $125 million in 270 companies across the US.