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FinTech lender Lighter Capital names Thor Culverhouse the new CEO

Lighter Capital

Thor Culverhouse, CEO, Lighter Capital

Lighter Capital, a Washington-based FinTech lender has appointed Thor Culverhouse as its CEO. A three-time tech startup CEO, Culverhouse succeeds BJ Lackland, who will step into an advisory role.

In the new role, Thor will be expected to focus on international expansion and broadening the company’s portfolio of financial solutions. Culverhouse was most recently the CEO of another Washington-based cloud computing firm Skytap. Previously, he has assumed various senior positions such as the CEO and Founder of willbeHired, CEO at Stratavia, and senior management roles at HP, IBM, Interwoven, and SeeBeyond, as per a statement.

Lighter Capital supports tech startups with non-dilutive financing up to $3 million that scales with a company’s growth. To date, the company has discharged over $165 million in more than 600 rounds of financing to over 350 startups through revenue-based financing (RBF) model. It has recently started offering lines of credit and term loans.

Earlier this year, Lighter Capital announced a partnership with Silicon Valley Bank to better serve early-stage tech companies seeking online access to debt capital and banking services. The joint offering provides entrepreneurs with financial tools and support they need before venture funding.

Lighter Capital’s FinTech platform pulls in 6,500 data points to analyze startups and reduce entrepreneurs’ time to raise funds by over 90%. The company uses proprietary algorithms to determine a credit rating and data science to predict a startup’s revenue growth.

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