E-commerce marketing funder Clearbanc raises $92 mln in VC
Clearbanc, a Toronto-based provider of marketing capital for e-commerce brands, has raised about $92 million (US$70 million) in financing. The round was backed by Emergence Capital, Social Capital, CoVenture, Founders Fund, 8VC, iNovia Capital, Real Ventures, Portag3 Ventures, Precursor, WTI, Berggruen and FJ Labs. Clearbanc provides pre-revenue e-commerce businesses with $5,000 to $10 million-plus in marketing capital without personal guarantees, warrants, equity or credit checks. It has already funded more than 500 companies with over $100 million. Clearbanc was founded in 2015 by CEO Andrew D'Souza and President Michele Romanow, both serial entrepreneurs and angel investors.
12 November 2018•4 mins read
