Lighter Capital
SaaS revenue-based and term loans up to $4M a round ($10M total). 1.3x to 1.5x cap (~18% to 29% APR), no personal guarantee, 3 to 4 weeks. Best for SaaS at $200K+ ARR.
Rates & Cost
What the financing costs, normalized so lenders can be compared.
Repayment Terms
How and how fast you pay it back, and how flexible it is.
Eligibility & Access
Who qualifies and what you have to put on the line.
Speed & Service
How fast you get funded and how the lender treats you.
Company Verification
Who actually stands behind the lender: legal entity, registration, and how long the business and its website have existed. Checked against public registries.
Best for: U.S., Canadian or Australian SaaS and tech companies with at least $200K in ARR (or $15K MRR), five or more paying customers, who want to keep their equity.
Not for: Pre-revenue startups, e-commerce brands, or anyone who needs money in days rather than weeks. On revenue-based deals, the full cap is owed even if you pay off early or are acquired.
Lender List verdict: Lighter Capital sizes debt to recurring revenue and lets payments track monthly sales, which suits capital-efficient SaaS teams. Its cost hides in a 1.3x to 1.5x cap: on a three-year payoff that is roughly 18% to 29% APR, and paying back faster makes the APR higher.
Lighter Capital at a glance
Lighter Capital lends up to $4M per round, and up to $10M in total, to software and tech companies with recurring revenue.
| Lighter Capital | |
|---|---|
| Lender type | Direct non-bank lender (California Finance Lenders license #603K634) |
| Founded | 2010 |
| HQ | Seattle, WA |
| Parent/owner | Lighter Capital, Inc. (privately held) |
| Products | Revenue-based financing, term-based loans, contract-based financing |
| Amounts | Up to $4M per round; up to $10M in total |
| Cost (headline) | Repayment cap of 1.3x to 1.5x; about 18% to 29% APR in our 36-month example |
| Term | Up to 3 years (homepage cites up to 4) |
| Funding speed | Typically 3 to 4 weeks for new clients |
| Status | Active (2026-10-26) |
What is Lighter Capital?
Lighter Capital is a Seattle-based lender, founded in 2010, that has deployed more than $550M across 660+ startups without taking equity or board seats. It was started by Andy Sack and has been led by CEO Melissa Widner since 2020.
It lends from credit facilities, including $130M added in August 2023 and backed partly by Apollo's Atlas SP and i80 Group.
How Lighter Capital revenue-based financing works
Lighter Capital's revenue-based financing is repaid as a fixed percentage of monthly revenue until you have paid back 1.3x to 1.5x the amount funded, typically over about 3 years. Third-party reviewers put that share at 2% to 8% of revenue, with most deals at 4% to 6%.
- Revenue-based: payments move up and down with monthly revenue; strong growth shortens the payoff.
- Other structures: term-based loans (fixed monthly, up to 3 years) and contract-based financing (under one year).
- Process: a two-minute application, a term sheet days after you connect financial data, and funding in 3 to 4 weeks.
Lighter Capital rates and fees: what it really costs
Lighter Capital prices revenue-based deals with a repayment cap of 1.3x to 1.5x the funded amount and does not publish an interest rate or APR. The cap depends on your company's health and stage.
- Charged: the cap (RBF) or interest (term loans)
- Not charged, per Lighter: hidden fees or extra closing costs; no equity or covenants
- Watch for: early payoff usually earns no discount; Founderpath, a competitor, cites closing costs near $20K that Lighter does not confirm
- Warrants: not mentioned on Lighter's site; Capchase, a competitor, claims some deals include them, so ask before signing
Worked example: take $500,000 at a 1.4x cap and you owe $700,000. Spread evenly over 36 months, that is about $19,444 a month, or roughly 23% APR. At 1.3x the APR is about 18%; at 1.5x, about 29%. If fast growth clears the same 1.4x deal in 24 months, the APR rises to about 35%; if slow revenue stretches it to 48 months, it falls to about 18%. New Frontier Funding puts Lighter's effective APR at 10% to 25%, likely assuming the longer 3- to 5-year payoffs it reports.
Lighter Capital requirements
Lighter Capital requires $200K in ARR or $15K in MRR and no personal guarantee or collateral; profitability is not required.
| Requirement | Lighter Capital minimum |
|---|---|
| Personal credit score | Lender does not publish |
| Time in business | Lender does not publish |
| Annual revenue | $200K ARR or $15K MRR |
| Customers / sector | 5+ paying customers; software, SaaS or tech services |
| Bank account / integrations | Connect your financial data; no pitch deck |
| Credit check | Lender does not publish soft/hard; credit is assessed (New Frontier Funding) |
| Location | HQ, branch or subsidiary in the U.S., Canada or Australia |
| Collateral / guarantee | No collateral required; no personal guarantee |
Pros and cons
Lighter Capital's biggest strengths are no dilution and payments that flex with revenue; its biggest drawback is a cap that no early payoff can reduce.
Pros
- No equity, board seat, personal guarantee or restrictive covenants
- Accepts companies at $200K ARR
- Revenue-based payments shrink in a weak month
- Up to $10M in total, with follow-on rounds after 90 days
Cons
- Interest rate and APR are not published
- Paying early does not cut the cap, so faster growth raises the effective APR
- 3 to 4 weeks to fund is slow next to data-driven rivals
- Few public customer reviews
Lighter Capital vs. Founderpath vs. Clearco
Lighter Capital asks for $200K in ARR, below Founderpath's $500K or Clearco's $100K a month.
| Lighter Capital | Founderpath | Clearco | |
|---|---|---|---|
| Max amount | $4M per round; $10M total | Not published (recent deals $572K to $4.2M) | Up to $10M |
| Pricing | Cap of 1.3x to 1.5x; rate not published | Revenue financing from 7% discount; term loans from 15% interest | Flat fee from 3.5% |
| Min FICO | Not published | Not published | Not published |
| Min time in business | Not published | Not published | 6+ months of consistent revenue |
| Min annual revenue | $200K ARR or $15K MRR | $500K last-year revenue | $100K+/month for 6+ months |
| Repayment | % of monthly revenue or fixed monthly; up to 3 years | Term loans up to 4 years | Weekly, up to 12 months |
| Early payoff | Allowed; cap generally not reduced | Allowed; generally lowers fees or interest | Prorated fees (eligible brands) |
Founderpath and Clearco figures are from their own sites, checked 2026-10-26.
Choose Lighter Capital if you are under $500K in revenue and want payments tied to it. Choose Founderpath if you have $500K+ in revenue and need cash within a couple of days. Choose Clearco if you run a high-revenue e-commerce brand rather than SaaS.
Lighter Capital alternatives on Lender List
The closest Lighter Capital alternatives on Lender List are Clearco, Wayflyer and Uncapped.
- Clearco — flat-fee capital for e-commerce
- Wayflyer — revenue-based funding for consumer brands
- Uncapped — fixed-fee loans for online businesses
- Browse all recurring revenue lending, venture debt and revenue-based financing on Lender List
Frequently asked questions about Lighter Capital
Lighter Capital is a licensed Seattle lender that has funded 660+ startups since 2010.
Is Lighter Capital Legit? Yes. Lighter Capital has lent since 2010, makes loans under California Finance Lenders license #603K634, and reports more than $550M deployed to 660+ startups. Apollo's Atlas SP and i80 Group backed a $100M facility in 2023. Public reviews are scarce: G2 shows none, and we found no BBB or Trustpilot profile.
Who Are Lighter Capital's Competitors? Lighter Capital's main competitors are SaaS lender Founderpath, Capchase (now focused on buyer financing) and revenue-based funders such as Clearco, Wayflyer and Uncapped. Founderpath needs $500K in revenue but funds within days; Lighter accepts $200K ARR but takes 3 to 4 weeks.
What Are Lighter Capital's Eligibility Requirements? You need $200K or more in ARR (or $15K in MRR), at least five paying customers, software or tech-services revenue, and a head office, branch or subsidiary in the U.S., Canada or Australia. Profitability is not required, and Lighter does not ask for a personal guarantee.
Is Lighter Capital a Loan or Revenue-Based Financing? It is a loan: Lighter Capital's revenue-based financing is debt, not equity or a merchant cash advance. You repay a share of monthly revenue until you hit a 1.3x to 1.5x cap; its term-based loans use fixed monthly payments and an interest rate instead.
What Is Lighter Capital's Average Loan Size? About $500,000, according to New Frontier Funding, citing company data. The same review puts the minimum at $50,000 to $100,000, with offers sized to about a third of run-rate revenue. Lighter Capital caps each round at $4M and total funding at $10M.
How Much Can I Borrow Based on ARR? Roughly a third of your run rate. New Frontier Funding and Capchase both report a ceiling of about 33% of annualized revenue, so $1.5M in run-rate revenue supports a round near $500,000. Lighter Capital's own limits are $4M per round and $10M in total.
Where Is Lighter Capital Headquartered? Lighter Capital is headquartered in Seattle, Washington, where it was founded in 2010. It lends to software and tech companies with a head office, branch or subsidiary in the U.S., Canada or Australia, and has deployed more than $550M to 660+ startups.
What Happens If Revenue Drops? Your revenue-based payments fall with it, since each is a fixed share of that month's revenue. The 1.3x to 1.5x cap stays the same, so a slow stretch lengthens repayment and lowers the effective APR. Term-based loan payments do not change.
Can I Pay Off Lighter Capital Early? Yes, at any time, but you generally owe the full repayment cap, so early payoff saves nothing. Lighter makes exceptions for certain first-year events, such as raising a venture round. If your company is acquired, the remaining balance comes due.
Last verified 2026-10-26. Pricing and terms are provider-stated or third-party-reported and vary by offer; confirm with the lender before applying.
Best for: U.S., Canadian or Australian SaaS and tech companies with at least $200K in ARR (or $15K MRR), five or more paying customers, who want to keep their equity.
Not for: Pre-revenue startups, e-commerce brands, or anyone who needs money in days rather than weeks. On revenue-based deals, the full cap is owed even if you pay off early or are acquired.
Lender List verdict: Lighter Capital sizes debt to recurring revenue and lets payments track monthly sales, which suits capital-efficient SaaS teams. Its cost hides in a 1.3x to 1.5x cap: on a three-year payoff that is roughly 18% to 29% APR, and paying back faster makes the APR higher.
Lighter Capital at a glance
Lighter Capital lends up to $4M per round, and up to $10M in total, to software and tech companies with recurring revenue.
| Lighter Capital | |
|---|---|
| Lender type | Direct non-bank lender (California Finance Lenders license #603K634) |
| Founded | 2010 |
| HQ | Seattle, WA |
| Parent/owner | Lighter Capital, Inc. (privately held) |
| Products | Revenue-based financing, term-based loans, contract-based financing |
| Amounts | Up to $4M per round; up to $10M in total |
| Cost (headline) | Repayment cap of 1.3x to 1.5x; about 18% to 29% APR in our 36-month example |
| Term | Up to 3 years (homepage cites up to 4) |
| Funding speed | Typically 3 to 4 weeks for new clients |
| Status | Active (2026-10-26) |
What is Lighter Capital?
Lighter Capital is a Seattle-based lender, founded in 2010, that has deployed more than $550M across 660+ startups without taking equity or board seats. It was started by Andy Sack and has been led by CEO Melissa Widner since 2020.
It lends from credit facilities, including $130M added in August 2023 and backed partly by Apollo's Atlas SP and i80 Group.
How Lighter Capital revenue-based financing works
Lighter Capital's revenue-based financing is repaid as a fixed percentage of monthly revenue until you have paid back 1.3x to 1.5x the amount funded, typically over about 3 years. Third-party reviewers put that share at 2% to 8% of revenue, with most deals at 4% to 6%.
- Revenue-based: payments move up and down with monthly revenue; strong growth shortens the payoff.
- Other structures: term-based loans (fixed monthly, up to 3 years) and contract-based financing (under one year).
- Process: a two-minute application, a term sheet days after you connect financial data, and funding in 3 to 4 weeks.
Lighter Capital rates and fees: what it really costs
Lighter Capital prices revenue-based deals with a repayment cap of 1.3x to 1.5x the funded amount and does not publish an interest rate or APR. The cap depends on your company's health and stage.
- Charged: the cap (RBF) or interest (term loans)
- Not charged, per Lighter: hidden fees or extra closing costs; no equity or covenants
- Watch for: early payoff usually earns no discount; Founderpath, a competitor, cites closing costs near $20K that Lighter does not confirm
- Warrants: not mentioned on Lighter's site; Capchase, a competitor, claims some deals include them, so ask before signing
Worked example: take $500,000 at a 1.4x cap and you owe $700,000. Spread evenly over 36 months, that is about $19,444 a month, or roughly 23% APR. At 1.3x the APR is about 18%; at 1.5x, about 29%. If fast growth clears the same 1.4x deal in 24 months, the APR rises to about 35%; if slow revenue stretches it to 48 months, it falls to about 18%. New Frontier Funding puts Lighter's effective APR at 10% to 25%, likely assuming the longer 3- to 5-year payoffs it reports.
Lighter Capital requirements
Lighter Capital requires $200K in ARR or $15K in MRR and no personal guarantee or collateral; profitability is not required.
| Requirement | Lighter Capital minimum |
|---|---|
| Personal credit score | Lender does not publish |
| Time in business | Lender does not publish |
| Annual revenue | $200K ARR or $15K MRR |
| Customers / sector | 5+ paying customers; software, SaaS or tech services |
| Bank account / integrations | Connect your financial data; no pitch deck |
| Credit check | Lender does not publish soft/hard; credit is assessed (New Frontier Funding) |
| Location | HQ, branch or subsidiary in the U.S., Canada or Australia |
| Collateral / guarantee | No collateral required; no personal guarantee |
Pros and cons
Lighter Capital's biggest strengths are no dilution and payments that flex with revenue; its biggest drawback is a cap that no early payoff can reduce.
Pros
- No equity, board seat, personal guarantee or restrictive covenants
- Accepts companies at $200K ARR
- Revenue-based payments shrink in a weak month
- Up to $10M in total, with follow-on rounds after 90 days
Cons
- Interest rate and APR are not published
- Paying early does not cut the cap, so faster growth raises the effective APR
- 3 to 4 weeks to fund is slow next to data-driven rivals
- Few public customer reviews
Lighter Capital vs. Founderpath vs. Clearco
Lighter Capital asks for $200K in ARR, below Founderpath's $500K or Clearco's $100K a month.
| Lighter Capital | Founderpath | Clearco | |
|---|---|---|---|
| Max amount | $4M per round; $10M total | Not published (recent deals $572K to $4.2M) | Up to $10M |
| Pricing | Cap of 1.3x to 1.5x; rate not published | Revenue financing from 7% discount; term loans from 15% interest | Flat fee from 3.5% |
| Min FICO | Not published | Not published | Not published |
| Min time in business | Not published | Not published | 6+ months of consistent revenue |
| Min annual revenue | $200K ARR or $15K MRR | $500K last-year revenue | $100K+/month for 6+ months |
| Repayment | % of monthly revenue or fixed monthly; up to 3 years | Term loans up to 4 years | Weekly, up to 12 months |
| Early payoff | Allowed; cap generally not reduced | Allowed; generally lowers fees or interest | Prorated fees (eligible brands) |
Founderpath and Clearco figures are from their own sites, checked 2026-10-26.
Choose Lighter Capital if you are under $500K in revenue and want payments tied to it. Choose Founderpath if you have $500K+ in revenue and need cash within a couple of days. Choose Clearco if you run a high-revenue e-commerce brand rather than SaaS.
Lighter Capital alternatives on Lender List
The closest Lighter Capital alternatives on Lender List are Clearco, Wayflyer and Uncapped.
- Clearco — flat-fee capital for e-commerce
- Wayflyer — revenue-based funding for consumer brands
- Uncapped — fixed-fee loans for online businesses
- Browse all recurring revenue lending, venture debt and revenue-based financing on Lender List
Frequently asked questions about Lighter Capital
Lighter Capital is a licensed Seattle lender that has funded 660+ startups since 2010.
Is Lighter Capital Legit? Yes. Lighter Capital has lent since 2010, makes loans under California Finance Lenders license #603K634, and reports more than $550M deployed to 660+ startups. Apollo's Atlas SP and i80 Group backed a $100M facility in 2023. Public reviews are scarce: G2 shows none, and we found no BBB or Trustpilot profile.
Who Are Lighter Capital's Competitors? Lighter Capital's main competitors are SaaS lender Founderpath, Capchase (now focused on buyer financing) and revenue-based funders such as Clearco, Wayflyer and Uncapped. Founderpath needs $500K in revenue but funds within days; Lighter accepts $200K ARR but takes 3 to 4 weeks.
What Are Lighter Capital's Eligibility Requirements? You need $200K or more in ARR (or $15K in MRR), at least five paying customers, software or tech-services revenue, and a head office, branch or subsidiary in the U.S., Canada or Australia. Profitability is not required, and Lighter does not ask for a personal guarantee.
Is Lighter Capital a Loan or Revenue-Based Financing? It is a loan: Lighter Capital's revenue-based financing is debt, not equity or a merchant cash advance. You repay a share of monthly revenue until you hit a 1.3x to 1.5x cap; its term-based loans use fixed monthly payments and an interest rate instead.
What Is Lighter Capital's Average Loan Size? About $500,000, according to New Frontier Funding, citing company data. The same review puts the minimum at $50,000 to $100,000, with offers sized to about a third of run-rate revenue. Lighter Capital caps each round at $4M and total funding at $10M.
How Much Can I Borrow Based on ARR? Roughly a third of your run rate. New Frontier Funding and Capchase both report a ceiling of about 33% of annualized revenue, so $1.5M in run-rate revenue supports a round near $500,000. Lighter Capital's own limits are $4M per round and $10M in total.
Where Is Lighter Capital Headquartered? Lighter Capital is headquartered in Seattle, Washington, where it was founded in 2010. It lends to software and tech companies with a head office, branch or subsidiary in the U.S., Canada or Australia, and has deployed more than $550M to 660+ startups.
What Happens If Revenue Drops? Your revenue-based payments fall with it, since each is a fixed share of that month's revenue. The 1.3x to 1.5x cap stays the same, so a slow stretch lengthens repayment and lowers the effective APR. Term-based loan payments do not change.
Can I Pay Off Lighter Capital Early? Yes, at any time, but you generally owe the full repayment cap, so early payoff saves nothing. Lighter makes exceptions for certain first-year events, such as raising a venture round. If your company is acquired, the remaining balance comes due.
Last verified 2026-10-26. Pricing and terms are provider-stated or third-party-reported and vary by offer; confirm with the lender before applying.
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