Lighter Capital was the only investor in Aisle Planner’s first round of funding; exact numbers were not disclosed.
The firm offers an alternative to venture capital and traditional bank loans. It does not take equity and instead uses a “Revenue Based Financing” model that lets startups like Aisle Planner “sell” a share of future revenues to Lighter Capital. The firm’s proprietary technology helps streamline the lending process for entrepreneurs — somewhat of a “Capital-as-a-Service” tool.
Aisle Planner CEO Rob Farrow said his startup was attracted to Lighter Capital as a funding source because of its unique model.
“It allows us to get access to capital we need without giving up equity in our company at such a critical stage of our growth,” Farrow said in a statement. “We were able to structure a deal that supports our long-term growth strategy, as well as the best interests of our shareholders, employees and most importantly, our customers.”
Lighter Capital typically invests anywhere between $50,000 to $2 million in a startup; it has funded more than 110 companies in 25 states.
Aisle Planner, meanwhile, grew its sales by 300 percent in 2016. The company, which helps professionals plan and manage weddings, has already helped put on nearly 21,000 weddings.