It’s been 5 years since Clearbanc is providing solutions (non-dilutive) to companies. Now the company has broader and larger prospects in mind. The company with the same aim has started its rebranding.
Recently Clearco has just raised an incredible $100 million in its Series C. This takes the company’s total valuation to $2B. This is interesting to see that this recent funding is at least 4 times larger than its series B back in 2019.
Clearbanc is no longer a bank. The company has started rebranding itself and as the first-ever move, the company has renamed itself to Clearo – a move to indicate that the company is moving towards giving advice to co-founders.
The company is now bored of its old branding. From being just a money/fund/capital provider- and interaction limited to one-sided transactions the company seeks to change the nature of relationships.
Clearbanc Clearco 100m Funding
The clearco will move in a direction with which it can maintain a long-term and long-lasting relationship with its customers – and this will also result in a fold increase in the capital. The founders want the clearco to be just more than a machine that writes cheques and keeps balances.
The product gave green cards to companies related to e-commerce and online business to raise non-dilutive capital in bet- $10k – $10M based on income and spending. And then the founders saw a steep rise in the capital. Fascinatingly, Clearco has invested > more than $2 billion in over 4,600 companies.
The company provides founders the capital really easily, but after rebranding what we can do is suggest and give you ideas on how to do more effectively invest with the help of the capital you have gained. This is the entire concept and purpose behind rebranding our company.
Clearco launched many new products last year who was very helpful for their customers. For instance, in April 2020, they introduced ClearRunway to assist founders of SaaS with non-dilutive capital repaid through agreements of revenue share. Then once again after a short span of time, they introduced another product in July.
They launched a product that helps the founders of the company in ranking the progress of their companies with the help of data and their marketing strategy success. Then again they introduced an inventory upfront directly from suppliers which is then paid back as products sell.
And after that once again it came to public knowledge that the organization launched another product Clearangel, quite resembling its 20-minute term sheet, but it was more about unsuccessful founders bringing less amount as collected revenue.
While we talk about the achievement of the organization we must acknowledge that the company’s success did not come in handy either. They had many challenges in the early times when the company was launched. In 2020 month of April the organization had to lay off 10 percent of its employees which makes up to 20 people.
The company was living in crisis – but very successfully overcame it too! At that time when it laid off, it gave $1 billion to 2,300 companies, but today, it has sent $2 billion to 4,500 companies. This is an over 100% rise in business success, as per clearbanc Clearco 100m series 2bmascarenhastechcrunch.
Some sectors of The company, are still unbeneficial. But that has a lot to do with the revenue-gaining process of the company – Clearco makes 10% in fees more when the organization gets repaid for their services. The organization spent $1B.
Clearo’s founders said that they were very newbies when they began the workaround on the challenges of how quickly you can lose your money if you are not given the right direction or go without any sense. Clearco has bad statistics but that is mostly because of the payout process of the company.
Ever since the company was founded, the company’s first challenge was outreach and door-to-door awareness. Now that the organization is an expert in the banking domain, the founders believe that the next significant step is understanding the co-founders and giving the best possible solution so far.
Many new products by Clearco are in queue right now. Yet to be launched. So far what gave the startup a boost was basically the benefit of their products to the company co-founders and founders. The growth of the startup very much depends on the success of the founders of the company and the advice given to them to proceed ahead.
Conclusion
Clearco’s Series C funding round, which raised $100 million, brought the company’s total valuation to a whopping $2 billion. The new funds will be used to continue Clearco’s mission of simplifying the complex process of starting and running a business.
With its easy-to-use platform and suite of tools, Clearco is quickly becoming the go-to resource for entrepreneurs everywhere. We can’t wait to see what this company does next!
