Non-Dilutive

Arc Advance is the financing product from Arc's treasury platform, providing non-dilutive capital to venture-backed startups and SaaS companies alongside Arc's cash management and banking infrastructure. The integration with Arc's banking platform enables streamlined underwriting using actual cash flow and banking data, reducing the documentation burden of traditional lending applications. Financing is structured as revenue-based advances against ARR, with repayment scheduled against projected revenue milestones. Arc's treasury data — showing actual cash position, burn rate, and runway — provides lenders with verified financial visibility that reduces underwriting risk and can improve terms for qualified borrowers. The platform targets companies with $500K+ in ARR seeking $250K–$5M in non-dilutive capital between equity rounds. Arc Advance competes directly with Capchase and Founderpath in the SaaS non-dilutive capital segment, differentiating through its integrated banking relationship and treasury intelligence layer. For startups already banking with Arc, the Advance product provides capital access as a natural extension of the banking relationship, simplifying financing without introducing an additional vendor.

Brex Venture Debt provides growth capital to venture-backed startups as an extension of Brex's financial platform, offering term loans and credit facilities structured for the investment profile of VC-backed companies. Venture debt is typically used to extend runway between equity rounds, finance growth initiatives without dilution, or fund specific capital expenditures. Brex's lending is primarily available to companies already banking with Brex, leveraging the banking relationship data for underwriting. Loan structures include interest-only periods that reduce cash burn during growth phases, with principal repayment beginning after an agreed period. Equity warrant coverage — a percentage of the loan amount in warrants on company stock — is typical in venture debt structures and represents part of the lender's return. Brex's lending competes with established venture debt providers including Silicon Valley Bank's successors, Western Technology Investment, and Hercules Capital, differentiated by the banking relationship integration and potentially faster deployment to existing customers. For Series A and later-stage startups that want to supplement equity funding with non-dilutive capital using an existing banking partner, Brex Venture Debt provides a natural extension of the Brex relationship.

Capchase provides non-dilutive financing to B2B SaaS companies by advancing capital against the present value of contracted recurring revenue — annual contracts paid monthly or multi-year contracts discounted to today's value. The core product, Capchase Pay, enables SaaS companies to offer flexible monthly payment terms to customers while receiving the full annual contract value upfront, solving the cash flow problem of annual-billed versus monthly-billed SaaS. The Capchase Grow product provides general working capital advances against ARR metrics. Advance rates of 70-90% of ARR are available for qualified companies with clean metrics. The financing cost is transparent — a monthly fee on the advanced capital rather than equity dilution or complex revenue share arrangements. Capchase's underwriting is data-driven, connecting to billing systems and banking data to evaluate ARR quality, churn metrics, and customer concentration. The platform has financed over $2 billion to SaaS companies across the US and Europe. For SaaS companies in the $1M–$30M ARR range that want to extend customer payment flexibility without sacrificing cash flow, Capchase's receivables-based model provides an efficient and transparent capital structure that preserves equity for growth.

Clearco (formerly Clearbanc) pioneered revenue-based financing for digital-first businesses, providing non-dilutive growth capital to e-commerce brands and SaaS companies based on their revenue metrics rather than credit scores or equity dilution. The model advances capital at a flat fee (typically 6-12% of the funded amount) with repayment structured as a percentage of weekly revenue — meaning payments accelerate during strong revenue periods and slow during downturns. This alignment with business performance is the fundamental appeal for founders who want growth capital without giving up equity or taking on debt with fixed repayment schedules. Clearco connects to Shopify, Amazon, Stripe, and other platforms to analyze revenue data and make funding decisions algorithmically. Capital is typically used for inventory purchases, digital advertising spend, and growth initiatives where ROI can be modeled against the flat fee cost. The platform has funded over $3 billion across 10,000+ companies since 2015. Clearco went through significant restructuring in 2022-2023, reducing staff and refocusing on its core product, but continues to operate its revenue-based financing platform. For bootstrapped e-commerce and SaaS founders who view equity as extremely valuable and seek alternative growth capital, Clearco's revenue-share model provides a genuinely different financing structure.

Lighter Capital is a revenue-based financing provider focused exclusively on technology companies — primarily SaaS, software, and tech-enabled service businesses. The firm has been providing non-dilutive growth capital since 2010, predating the surge of RBF providers that followed. Capital from $50,000–$4 million is advanced as a multiple of monthly recurring revenue, with repayment structured as a royalty on ongoing monthly revenue at a rate typically between 2-8%. The flat financing fee (rather than interest rate) makes total repayment amount calculable upfront, providing cost certainty that traditional debt lacks. Lighter Capital's underwriting process is thorough — applications require MRR metrics, customer concentration data, churn analytics, and financial projections — but the firm provides qualified companies with faster capital than bank lending at better terms than VC equity. Portfolio support includes introductions to service providers, co-investors, and strategic resources. The firm has invested in over 500 technology companies across the US and Canada. For bootstrapped SaaS founders with $15,000+ in MRR who want to accelerate growth without dilution, Lighter Capital's founder-friendly model and long track record in the RBF space provide both capital and credibility.

Pipe originally launched as a trading platform enabling SaaS companies to instantly access the annualized value of their monthly recurring revenue by selling future receivables to institutional investors. The original model created a marketplace where investors could purchase recurring revenue contracts at a discount, providing SaaS companies with upfront capital without equity dilution or traditional debt. Pipe underwent significant management and strategic changes in 2022-2023, including leadership changes and a pivot toward broader capital markets services. The platform now serves as a capital markets platform connecting business with multiple financing options beyond its original recurring revenue trading model. The core concept remains relevant — many SaaS companies with strong ARR have locked-up value in future contracted payments that can be monetized at a cost significantly below equity dilution. Pipe's platform integrates with billing systems to verify revenue quality. For SaaS founders evaluating non-dilutive capital options, Pipe's current product should be evaluated against Capchase and Capchase's receivables model, as the platform's positioning has evolved considerably from its initial launch. The underlying financing need — advancing against contracted recurring revenue — remains a valuable category for SaaS companies.