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Clearco Secures $60M Series D, Recapitalization

Funding | Oct 6, 2023

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In a striking rebound, Clear Finance Technology Corp., widely recognized as Clearco, has successfully secured a pivotal round of funding, navigating through a potential turnaround.

The recent recapitalization efforts, including a noteworthy $60 million Series D round and a new asset-backed financing facility, have provided Clearco with up to $100 million in financing capacity.

The recapitalization not only symbolizes a turnaround for Clearco but also underscores its resilience and strategic recalibration amidst challenges, including staff layoffs and the departure of co-founder and CEO, Michele Romanow.

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The company, now under the leadership of CEO Andrew Curtis, has pivoted its product focus towards its Invoice Funding product, offering predictable payment amounts and user-friendly terms, thereby aligning with the current and future needs of e-commerce businesses.

Clearco, renowned for utilizing AI and proprietary machine learning technologies to underwrite businesses, has been instrumental in aiding customers to fund inventory and marketing invoices, ranging from $10,000 to $2 million.

To date, the company has financed over 10,000 companies, injecting more than $2.5 billion into various businesses, thereby fostering growth and innovation across multiple sectors.


NCFA Jan 2018 resize - Clearco Secures $60M Series D, RecapitalizationThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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