Clearco $ 100M Series $ 2B Investment
The world’s largest e-commerce fundraiser clearco has announced the renaming along with the news of raising $100M in new series C funding round. This has brought the valuation of the company to almost $2 billion. This round was led by Oak HC/FT.
A number of new investors have also been visible in this series including executives from Square, Stripe, Affirm, Adyen, Betterment, Robinhood, Apple, Airwallex, and Hubspot. A total of $250M debt has also been raised by clearbanc.
To reflect the comprehensive platform, that an eCommerce firm not only put money into e-commerce and software companies but can also provide the services and products as well, Clearbanc has rebranded to Clearco.
They want to reflect their evolution from an origin of structured capital for a founder to a wide platform of growth product and facility.
About Clearbanc Which Is Now Clearco
the Clearco is a fintech funding firm that provides for online companies. It was founded in 2015 by Andrew D’Souza who is also the CEO of this firm. It has its headquarters in Toronto, Canada.
Clearco is unique in its dedication and capability to fuel entrepreneurship outside of the orthodox networks and regions, as it does not differentiate on the basis of color, race, religion, or gender.
In 2020, when there was a 27% drop for female founders in global VC funding, according to Crunchbase, clearco funded female-headed companies almost 8 times as traditional VC firms. Also, the companies that are headed by blacks and latinX founders receive 13% of clearco’s funding as per clearco 100m series 2bmascarenhastechcrunch.
The co-founder and president of clearco, Michele Romano said that in 45,000 plus companies they have invested US$2 billion and added that they are building a product suite to aid the founders that goes far away from funding, depending on what they said to us they need most.
He said that their company’s new name reflects their broad commitment to collaborating with founders to construct prosperous businesses.
Romano said their goal is to alter the face of investing and they are very proud that they are showing that it can be done.
Now clearco provides an industry-leading suite of presentation financing products and services tailor build to help founders retain ownership along with the following:
- Clear inventory capital- firstly clearco buy your inventory then you have to pay it back as it vend through for a cost of 6% plus. It will allow the founders to reward as they develop.
- Clear valuation- clearco’s products have expanded beyond capital and all thanks go to Advanced Data Science, which provides an unbound valuation to founders to increase their firm’s value and also to connect with some investors.
- Ecommerce founders clear capital- the marketing growth funding from $10 thousand to $10 million for developing eCommerce founders was offered by clearco’s 20 minutes term sheet’s signature.
- Clear Angle- early-stage founders () are accessed by a clear angel to revenue the share capital, data-driven solution, and an extensive network of apps, investors, and agencies of clearco.
About Oak HC/FT
Oak HC/FT was founded in 2014, with its headquarters in Greenwich, CT along with its offices in San Francisco and Boston. It was founded by Annie Lamont, Andrew Adams, and Tricia Kemp. It is a venture and development equity firm that invests in those organizations that are innovating in healthcare and finetech.
The founder of Oak HC/FT, Annie Lamont said that their company is thrilled to be the partner with the leader of the market, in the alternative funding space.
She further added that they have a very strong belief in the mission of Clearco, which is to democratize access to capital and they are very eager and excited to see the next phase of development.
The rebranding and the raising of $100M were done on the same day and the purpose behind this is to show the development and evolution of an eCommerce venture company.
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