Clearbanc, a NYC- and Toronto, Canada-based e-commerce investor, rebranded to Clearco and raised $100M in Series C equity funding.
The US$100M equity round, which brought the company’s valuation to almost $2 billion, was led by Oak HC/FT with Managing Partner Annie Lamont joining the company’s Board of Directors, with participation from new investors Founders Circle and executives from Stripe, Square, Affirm, Adyen, Robinhood, Betterment, Airbnb, Hubspot, AirWallex and Apple.
Clearco also received US$250M of debt from Credigy (a National Bank subsidiary).
The company intends to use the funds to accelerate growth plans.
Co-founded in 2015 by Michele Romanow from Canada’s Shark Tank (Dragons’ Den), Andrew D’Souza, Ivan Gritsiniak, Charlie Feng, and Tanay Delima, Clearco offers capital solutions for e-commerce, mobile apps, and SaaS founders as well as a full suite of products and access to a global network, insights and data, and recommendations. The company has financed over 4,500 companies to date, including Leesa Sleep, fashion-rental service Le Tote, home goods company Public Goods, shirtmaker UNTUCKit, online speech therapy practice Expressable, and digital real estate marketplace SetSchedule.