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Clearbanc Rebrand Its Name As Clearco Raises $100M, Now Its Total Valuation up to $2B

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Clearbanc is currently the largest investor in the e-commerce market after rebranding and raising $100 million in Series C equity capital, which is radically altering the growth of companies in the sector.

Clearco 100M Series Investment

Clearbanc is the gold standard when it comes to the launch of new enterprises. The result is that the value of the company has increased to roughly $2 billion.

The company has changed its name to Clearco to better represent its development over the previous few years from a provider of low-cost funding for founders to a more comprehensive platform of growth goods and services.

Clearco is one-of-a-kind because it is dedicated to fostering entrepreneurial endeavours in areas and sectors that fall outside the purview of traditional networks and institutions, and because the patented algorithms it uses do not exhibit bias based on factors like race, gender, or sexual orientation.

Compared to 2015, it is expected that traditional VC firms will spend 27% less money on enterprises run by women in 2020. Contrary to conventional venture capital firms, Clearco has supported a disproportionately high number of businesses run by women.

Clearco invests 13.0% of its capital in companies led by people of colour, while the average for traditional VC firms is just 2.6%. Clearco has given 75% of its entire funding to people of colour who are starting businesses.

Michele Romanow, one of the company’s founders and the current president of Clearco, believes the new name more accurately reflects the company’s growth outside of the financial services sector. The name Clearbanc marks the start of the company’s history.

“We have invested more than US$2 billion in more than 4,500 organizations over the past 20 years, and we are now building a product suite to offer founders help in even more domains.

When putting up this package, we made an effort to take into account the common requirements of startups. Our rebranding reflects our commitment to forming lasting partnerships with business owners.”

The algorithms at Clearco also “distribute the money” among the many nodes in the network. While California, Texas, New York, and Massachusetts received a combined 80% of conventional venture capital funding in the United States, they received only 45% of Clearco’s total investment cash and 55% went elsewhere.

California, Texas, New York, and Massachusetts are all represented here. California, Texas, New York, and Massachusetts are featured as four examples.

All fifty U.S. states, ten Canadian provinces, and three Canadian territories have received financing from Clearco. 70% of UK funding has gone to businesses outside of London as of this writing.

It is Romanow’s and his team’s goal to “revolutionize the face of fundraising,” and they are “tremendously happy” to be demonstrating that this is possible. We’re ecstatic to finally have proof that it works. As a result, we are overjoyed to have provided proof that this is possible.

Clearco 100M series 2bmascarenhastechcrunch

During its Series C funding round, Clearco raised US$250 million, including US$100 million in equity and US$250 million in debt, which placed a valuation of the company at around $2 billion. In this way, the company was able to accomplish its goals.

Annie Lamont, partner and co-founder of Oak HC/managing FT, has been elected to the board of directors. Lamont has spent over 30 years in the business world as a venture capitalist and investor.

The annual Forbes Midas List recognizes him as one of the world’s most successful people. Stripe, Square, Affirm, Adyen, Robinhood, Betterment, Airbnb, and HubSpot executives are among the new investors. An AirWallex representative is also present.

Clearco’s expanding portfolio now enjoys interest rates that are more competitive than those offered by any other pay-as-you-go financing company in the industry thanks to additional funding from Credigy, a National Bank affiliate.

It was made possible thanks to Credigy’s partnership with National Bank. Clearco has raised over USD 170,000,000 with its most recent stock transaction.

Andrew D’Souza, CEO and co-founder, says investors now see that “we can find and help entrepreneurs utilizing machine learning and AI in a considerably more egalitarian method.” D’Souza confirmed it.

We’ve shown that, with the help of machine learning and AI, we can identify and invest in promising new businesses. As evidence, you need to look no further than the fact that we have awarded over $2 billion to 4,500+ business owners.

Furthermore, we are overjoyed that Annie has decided to join the Clearco Board of Directors. Nothing could make us happier right now than what we have.

She is the ideal choice to join our company at this pivotal time and work with our executive team to grow our operations and our brand because she has a plethora of expertise in the business world and with investors.

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