Clearco, previously known as Clearbanc, has announced a $215 million round of funding led by new investor SoftBank Vision Fund 2 to continue to propel the company's growth and suite of founder-first hub of products. The investment also adds strategic capital to accelerate planned market expansions.
Clearco provides growth products and services to remove barriers founders traditionally face, including giving up equity in exchange for capital, inventory funding, and data that drives growth and operational efficiency.
Softbank Investment Advisers' Kristin Bannon led the new round of financing. Additionally, Intuit, Bow Capital and Park West participated.
Clearco co-founder and president Michele Romanow said: "Softbank's investment during a moment where we are accelerating at breakneck speed and leading a founder's revolution is both humbling and exciting as we continue to work towards removing archaic barriers and offer an alternative and accessible solution for founders all around the world. We continue to be wholly committed to our vision of changing the trajectory of what it means to attain capital to grow your business and the full-service tools to be successful, whether that be strategic guidance, access to a powerful network of partners or valuation tools that allow founders to accelerate the growth of their business."
Clearco CEO and co-founder Andrew D'Souza, said: "We're a company that was built by founders for founders, and we've all faced the same issues we are working to not only solve but replace with better products and opportunities through an entire new category. We've invested over $2.4 billion in nearly 5,500+ companies with a platform we know our founders need and this round allows us to continue building a world-class suite of services that founders deserve to grow their business."
Kristin Bannon, director at SoftBank Investment Advisers, said: "Clearco is a market leader who has created an entire industry that is fiercely dedicated to democratizing access to capital and a full suite of services that serve the founder journey. We're excited to partner with Andrew, Michele and the Clearco team as they aim to transform the e-commerce industry."