Lighter Capital, a Seattle-based online lending company, has appointed Jeff Seely to its board of directors. Seely is a trustee on the Washington State Investment Board and a member of the board of directors of Concur, a publicly traded, Redmond, Wash.-based company that’s focused on employee spend management software.
Lighter Capital, a pioneer of Capital-as-a-Service (Caas), providing entrepreneurs with rapid access to growth capital through revenue-based financing, today announced the appointment of Jeff Seely to its Board of Directors.
Seely is a trustee on the Washington State Investment Board, which oversees more than $70 billion of pension assets for state employees, and a member of the board of directors of Redmond-based Concur (Nasdaq:CNQR), a company focused on employee spend management software. Seely previously served as the CEO of Recruiting.com from 2008 to 2010, and was chairman and CEO of ShareBuilder Corporation from 1998 until 2007, when it was sold to ING Direct for $220 million. Prior to ShareBuilder, Seely spent 15 years in investment banking at Robertson Stephens & Co., Dean Witter and Smith Barney, where he focused on financings, IPOs, and mergers and acquisitions for financial services firms and consumer businesses.
“Jeff’s career has bridged the worlds of finance and technology in a very rare and highly successful manner, bringing a tremendous wealth of experience to Lighter Capital as we grow our Capital-as-a-Service offering,” said BJ Lackland, CEO of Lighter Capital. “His experience building a web-based financial services firm, being an investment banker to banks, and providing strategic guidance to pension funds and successful software businesses provides our Board with a veteran perspective that will be extremely valuable. I am very excited to have him as an active member of our board.”
Lighter Capital and Revenue-Based Financing is intended for early-stage businesses that have established success and are primed for growth, but are cash-constrained and need access to capital with no loss of control and no fixed repayment schedule. Lighter Capital has developed a software platform to automate the investment application and evaluation process, accelerating the loan process for entrepreneurs, while also improving Lighter Capital’s scale and investment returns.
About Lighter Capital
At Lighter Capital, we’re breaking down the 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 loans, making us “lighter” than the marble and mahogany of the antiquated banks. Since 2010, Lighter Capital has funded dozens of fast growing companies that had no interest in personal guarantees from a bank nor the dilution and control provisions from venture capitalists. Lighter Capital invests $50k to $1M into companies with revenues of $15k per month and up. For more information, or to apply, visit: http://www.lightercapital.com/