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QBOOKS ISV $15M FUND SET Featured

Lighter CapitalLighter Capital, which provides funding to startup tech companies, has created the Lighter Capital Intuit Developer Fund. The announcement at QuickBooks Connect this week says the fund allocates $15 million of Lighter's credit facility to those develop applications for QuickBooks.

This includes QuickBooks Online, payments and desktop. Lighter says one of its clients Agiliron, has already used this funding to hire staff and expand marketing. Lighter provides revenue-based funding, reporting rates fall between 2 percent and 8 percent of revenue and adjusted for fluctuations in net revenue. Loans of $50,000 to $2 million are available—Lighter's website says up to one third of a company's annualized run-rate. Companies apply online and typically receive funding in four to six weeks. In February, Lighter reported it loaned $26 million through 101 deals in 2016, which it says made it the largest investor in SaaS companies in the country.

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