Canada-Based Clearco Raised $100 Million in Series C Funding at a $2 Billion Valuation


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The largest E-Commerce investor in the world and the organization that is reinventing the way founders grow their businesses, Clearbanc, recently unveiled a rebrand and announced a $100M Series C equity fundraising round to support the company’s ambitious growth goals. This announcement increased the company’s valuation to almost $2B according to mascarenhastechcrunch.

The company is changing its name to Clearco to better reflect how it has developed from a source of effective funding for entrepreneurs to a larger platform of growth products and services. Clearco is exceptional in its commitment to and capacity to foster entrepreneurship outside of traditional networks and geographies thanks to its patented algorithms, which are gender-, race-, and region-agnostic.

According to sources, the amount of VC funding given to female entrepreneurs worldwide fell by 27% in 2020, yet Clearco invested in eight times as many female-founded businesses. Comparatively to standard VC firms, which provided 2.6 percent of the funding during that time period, Clearco provided 13 percent of its funding to businesses with Black and LatinX founders, accounting for a third of the company’s overall funding.

The change from Clearbanc to Clearco, in Michele Romanow, co-founder and president’s words, “truly indicates our expansion beyond the capital.” “Based on what founders have told them they need most, they are developing a product suite to serve founders that goes far beyond money. They have invested US$2 billion in more than 4,500 startups. Their expanded commitment to working alongside founders to create successful firms is reflected in our new name.”

Additionally, the algorithms used by Clearco “spread the wealth” geographically. Last year, four states with a history of innovation—California, Texas, New York, and Massachusetts—received 80% of the median US VC funding; however, Clearco’s total for those areas was only 45%, with the remaining 55% going elsewhere. In the UK, where to date 70% of funds have gone to enterprises outside London, all 10 Canadian provinces, all three territories, and all 50 US states have all seen funding from Clearco for business ventures.

Their objective is to transform the fundraising industry, and they take great pride in demonstrating that it is possible, according to Romanow. 

In order to fund these initiatives, Clearco completed a Series C transaction in which it raised $100M in stock and $250M in debt, valuing the company at close to $2B. Annie Lamont, co-founder, and managing partner will join the board of directors for the organization. Oak HC/FT won the contest. Lamont has been a venture capitalist and investor for more than three decades and has been named to the Forbes Midas List. Since Credigy (a National Bank affiliate) is providing the additional loan, clearco 100m is able to provide its expanding portfolio at more attractive rates than any pay-as-you-grow financing company in history thanks to a much lower cost of capital. Clearco has so far raised more than $170 million in equity.

According to Co-Founder and CEO Andrew D’Souza, “they have demonstrated that they can locate and support entrepreneurs using machine learning and AI in a far more egalitarian approach, with US$2B deployed to over 4,500 founders. They are happy that the investment world sees that.” “They are also thrilled to have Annie join the Clearco Board. She is the perfect fit to join them at this pivotal time and work with their executive team to expand their company and brand thanks to her 30 years of business and investment experience.”

They have a strong commitment to Clearco’s goal of democratizing access to capital and are enthusiastic about the company’s upcoming stage of development.

The most entrepreneur-friendly capital solutions are offered by Clearco to the founders of e-commerce, mobile apps, and SaaS businesses. Insights, data, and recommendations are also made available, along with access to a large worldwide network. To date, Clearco has provided funding for over 4,500 businesses, including Leesa Sleep, the online speech treatment provider Expressible, the home goods retailer Public Goods, the fashion rental service Le Tote, and the digital real estate marketplace SetSchedule.


When was it co-founded?


Who has led the funding round?


How many funds have been raised?

$100 Million

What is the total valuation after the funding round?

$2 Billion

For which series have the funds been raised?

Series C

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