NAB strikes deal with US fintech lender to back start-ups
National Australia will collaborate with fintech lender Lighter Capital to support early stage start-up with funding opportunities.
It follows the bank’s $2 billion commitment announced last year to back emerging technology companies.
This collaboration allows tech start-ups to gain access to Lighter Capital’s financing options including revenue-based financing, term loans and lines of credit.
Unlike traditional funding sources, Lighter Capital doesn’t require board seats, warrants or personal guarantees from its borrower.
“With small businesses citing access to finance as one of their major barriers to growth, the announcement is great news for digital entrepreneurs with vision and a determination to maintain control of their venture,” NAB executive for small business, Ana Marinkovic said.
Businesses will also be provided with a dedicated NAB small business specialist.
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