Clearbanc offers $1 bln in startup funding via 20-Min Term Sheet
Clearbanc, a Toronto-based provider of marketing capital for e-commerce brands, said it will supply $1 billion in growth funding through a new product, the 20-Min Term Sheet. The product will support the rapid provision of $10,000 to $10 million of non-dilutive financing to 2,000 startups in the next 12 months. Clearbanc said the 20-Min Term Sheet offers an alternative to entrepreneurs "pushing back against the traditional VC model for funding" and under-served markets. Founded in 2015 by CEOs Andrew D’Souza and Michele Romanow, Clearbanc secured about $160 million (US$120 million) last year from a syndicate of venture capital firms.
3 April 2019•4 mins read
