Clearbanc

lendingsme financingmicrofinance

FOUNDING YEAR: 2015
LOCATION: Canada
Last Update: 17/07/2020

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About

Clearbanc provides a growth capital lending platform that offers credit to the entrepreneurs on the basis of their revenue and business output rather than on the basis of their credit score. They can also avail multiple credits based on their eligibility.

Focus

PRODUCTS & SERVICES

Its product offerings include: 1. Merchant Cash Advance: It is an advance that is based on the customers' future receivables. The company provides them with the credit and then collects 10% of their receivables until they pay back cash advance as well as the flat fee. 2. Clearbanc Marketing Card: It is a MasterCard that helps users fund their marketing spend. The company does not charge any application fee but only fixed fee associated with the advance determined based on their business data.

REVENUE MODEL

Vinebox, Teysha, Piglet, Vnyl, Bokksu

MAIN CLIENTS

Authorize.Net

BigCommerce

Cratejoy

Acquire.agency

Ad Espresso

Common Thread collective

Hawkemedia

jumbleberry

Magento

Mutesix

PrestaShop

ShipBob

Springbot

tradegecko

XCART

People

FOUNDERS

Andrew D’Souza (CEO)

Charlie Feng

Michele Romanow

Pavel Melnichuk (CTO)

Andrew D'Souza

Ben Sanders

Pavel Melnichuk

NUMBER OF EMPLOYEES

51-200

INVESTORS:

8VC

Arcadia Group

CoVenture

Emergence Capital

FJ Labs

Founders Fund

iNovia Capital

Real Ventures

Social Capital

Momentum

FUNDED

YES

TOTAL FUNDING

$119.26 M

DATE OF LAST FUNDING

Jul 2019

FUNDING SERIES

SERIES A  · $70 M  · Nov 2018

SERIES B  · $49.26 M  · Jul 2019

PRIZE MONEY

$12 K

LISTED

NO

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