Clearco, a Toronto, Canada-based e-commerce investor focused on giving founders opportunities to grow their businesses, raised $215M in funding.
The round was led by new investor SoftBank Vision Fund 2 with participation from Intuit, Bow Capital and Park West.
The company intends to use the funds to continue to expand its international footprint and operations and grow its suite of products.
Led by Michele Romanow and Andrew D’Souza, Clearco provides a suite of performance financing products and services tailor made to help founders retain ownership including:
- ClearCapital, which provides up to $10m in equity-free capital for eCommerce companies looking to scale their marketing, or stock up on inventory
- ClearAngel, which gives early stage founders access to equity-free capital, data-driven advice, and Clearco’s extensive network of apps, agencies, and investors
- ClearRunway, which offers SaaS and subscription companies a simpler way to grow, by converting monthly revenues into equity-free investments of up to $10m.
- Insights & Valuation tools, which help founders identify where they stand in their category across 20+ sales and marketing performance metrics, as well as the total value of their company.
Clearco has financed over 5500 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.
In June 2021, the company announced an exclusive partnership with Caravan (formerly Creative Labs), a joint venture with entertainment and sports agency Creative Artists Agency (CAA) to form a US $50M fund, which will provide non-dilutive capital to entrepreneurial businesses that harness the power of celebrities and their audiences to accelerate growth.
The team also includes: Ruma Bose, Chief Growth Officer, Sarah Clark, Head of UK, Satwik Seshasai, Chief Technology Officer, and Katrina Shackelford, VP of Product.
FinSMEs
08/07/2021