Seattle-based Lighter Capital, which offers an alternative to venture capital and traditional bank loans, today announced a new $15 million fund in partnership with Intuit to support developers designing apps for Intuit QuickBooks.
The fund, which comes from Lighter Capital’s credit facility, will go toward startups developing apps on the QuickBooks platform. Qualified companies can receive $50,000 to $500,000 from Lighter Capital in four-to-six weeks, and up to $2 million overall. This is the first formal partnership between Lighter Capital and Intuit. Interested startups can learn more about the new fund here.
Founded by Seattle-area entrepreneur Andy Sack, Lighter Capital provides revenue-based loans to companies — it’s an alternative to venture capital where entrepreneurs must forfeit equity. The firm raised a $100 million fund in 2015.