The Capital Countdown proved to us that there are a lot of really unique businesses underserved by existing financing sources.
Seattle, WA (PRWEB) December 01, 2011
Lighter Capital, the pioneer in revenue-based finance for early-stage companies, today ended its Capital Countdown promotion and announced that HireAHelper has won its Explosive contest.
The competition offered up to $500,000 to an early-stage company with explosive revenue growth. HireAHelper, the largest marketplace for consumer day labor, was selected out of more than 100 businesses that applied during the 3 month promotion.
"HireAHelper far and away showed the most growth potential to fit with our RevenueLoan structure," mentioned Andy Sack, CEO of Lighter Capital. "The Capital Countdown proved to us that there are a lot of really unique businesses underserved by existing financing sources."
HireAHelper will use the funds to expand its product offering and hire more developers.
"As we expand we wanted to find a way to keep growing quickly without losing control of the HireAHelper mission to improve the day labor industry,” added Mike Glanz, CEO of HireAHelper. “A RevenueLoan from Lighter Capital was the perfect solution: we don't have to slow down or change directions."
Based on the success of the contest, Lighter Capital plans to run new Capital Countdowns to fund early-stage companies beginning again in early 2012. Companies interested in participating in the next promotion should stay tuned by visiting the Lighter Capital website.
About Lighter Capital
At Lighter Capital, we're breaking down barriers to small business growth funding. Our revenue-based finance model exchanges growth capital for a fixed percentage of the company's revenues. This structure is more flexible, easier, and faster than traditional lenders, making us "lighter" than the marble and mahogany of the antiquated banks.
Since late 2010, Lighter Capital has funded over $1.5 million to customers ranging from Software-as-a-service to conference companies like Tomato Battle to specialty food company Laloo's Goat's Milk Ice Cream -- all excellent businesses that have been overlooked by traditional banks and VCs. Lighter Capital is a venture-backed, non-bank investor of its own funds, not a broker or intermediary.