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Lightspeed: ‘MCAs continue to be popular’

“Lightspeed Capital revenue grew to $9.3 million from $4.2 million in Q2 of last year, up 121% year over year as the program continues to be popular with our customers,”” said Lightspeed CFO Asha Bakshani. “Lightspeed Capital offers fast access to capital and automatic repayment through Lightspeed Payments.”

“Overall, Lightspeed generated $277M in revenue for FY Q2 2025 of which only $9.3M was attributed to their MCA business (less than 3.5%). Still, the company says the extreme gross margins are creating a material impact for the business.
“We’re definitely seeing an impact from Lightspeed Capital,” Bakshani said. “I mean when we think about the numbers, and you’ll see them in our disclosure docs, we’re looking at high single digits per quarter in revenue. But because that comes in at 95% plus gross margins, it definitely has an impact already in offsetting both the residuals moving over to payments and also just more, more of our revenue coming in at Lightspeed Payments gross margin.”

Lightspeed is a publicly traded retail POS company with a current market cap of $3.68B CAD and $105M in MCAs on its balance sheet.

Smaller Funder? How to Get Fast Tracked With Big Investors

Looking for big money? As a smaller funder your simple financial reports might not cut it when it comes to big investors. In fact, it’s a complaint frequently made by investment bankers and institutional funds looking to get capital deployed in the revenue-based financing space.

“Smaller originators face three key hurdles: first, the lack of institutional-grade portfolio performance and consistency; second, limited data operations and analytics capabilities; and third, a shortage of affordable resources and expertise to close these gaps and engage effectively with capital markets,” said Tomo Matsuo, Managing Partner of AdvanceIQ.ai., “AdvanceIQ.ai was launched to address these challenges head-on through tailored solutions like our new Portfolio Pulse product.”

The Portfolio Pulse is a simple yet robust tear-sheet product that delivers a high-level, third-party validated snapshot of portfolio performance. Designed as a cost-effective tool, it helps funders build credibility and engage institutional investors with confidence. Seamlessly integrating with most industry CRMs, it generates investor-ready metrics tailored for early-stage conversations, enhancing transparency and trust.

But Portfolio Pulse is just one piece of AdvanceIQ.ai’s broader suite of tools. From risk scoring and intelligent lead routing to dynamic portfolio analytics, AdvanceIQ.ai equips funders with the insights and resources to scale efficiently while building investor confidence. These offerings include tools like the SMB Risk Index (SRI), a proprietary scoring system designed for the SMB AltLending sector to predict and enhance asset performance.

Excerpts from Portfolio Pulse:


• Trailing twelve-month (TTM) origination metrics and performance trends.

• Distribution and performance insights segmented by key attributes, including the proprietary SMB Risk Index (SRI).

• Historical repayment trends via collection curve analysis.

“High-quality reporting is an essential first step for smaller funders to break into institutional markets,” Matsuo noted. “Our goal is to provide the transparency and insights that empower them to succeed.”
With deep experience in the SMB AltLending space, Matsuo is no stranger to the challenges funders face. “Having been involved in raising and managing hundreds of millions of dollars in both debt and equity, I’ve seen how difficult it can be for smaller originators to stand out. AdvanceIQ.ai’s offerings are designed to remove those barriers and position them for growth.”