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Clearbanc Raises $50 Million More For Startup Funding

December 18, 2018 by Fintech Newsdesk Leave a Comment

Toronto’s Clearbanc is disrupting startup funding by providing companies cash to buy ads in exchange for a revenue share so they don’t have to sell as much equity to venture capitalists.

That idea has proven so appealing that 1,000 companies seeking up to $1 billion total have hit up Clearbanc since the fintech startup raised $70 million last month.

To meet the incredible demand these startup marketing dollars, Clearbanc has just raised a $50 million fund from Seamless co-founder Jason Finger’s new firm, Upper90.

The company was founded in 2015 by serial entrepreneurs and angel investors Andrew D’Souza and Michele Romanow, who is also a Dragon on CBC’s Dragons’ Den.

Clearbanc’s technology gives entrepreneurs access to capital without personal guarantees, warrants, equity, or credit checks. Its online automated system scans data from a business’ existing platforms like Stripe and Facebook, to gauge their financial health and revenue trajectory.

Qualified businesses receive ongoing capital in as little as one day as a capped revenue share deal. Businesses only repay the capital as they make revenue with no set repayment date and no compounding interest, ownership or control terms. Clearbanc provides companies with $5k to $10 million or more in marketing capital.

Filed Under: News Tagged With: Clearbanc

 
 
 
 

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