Lolli Ad

San Francisco-based Clearbanc, a startup that provides funding for marketing for rapidly-growing ecommerce brands, announced this week that it has closed $70 million in funding from multiple top venture capital firms including Emergence Capital, Social Capital, CoVenture and Founders Fund.

According to the announcement, Clearbanc provides startup companies with $5,000 to $10 million or more in marketing capital in return for a capped revenue share deal.

Co-founded by Canadian entrepreneur¬†and¬†Dragons’ Den star, Michele Romanow, Clearbanc¬†aims to fit into the investor landscape as a real alternative to venture capital rounds, as data shows that¬†40% of VC dollars invested in startups go directly to Google and Facebook for advertising. The company’s model democratizes access to capital while facilitating brand growth without founders losing equity ownership.

“This is a landmark year for us. We’ve funded over¬†$100M¬†in marketing capital for over 500 ecommerce brands already in 2018,” said co-founder and CEO¬†Andrew D’Souza. “Clearbanc not only puts the power back in the hands of entrepreneurs — rather than investors and banks — but also plans to fund millions of small businesses globally instead of the small handful that most investors typically fund in a year.”

Additional participants in the round include Emergence Capital, 8VC, iNovia Capital, Real Ventures, Portag3, Precursor, WTI, Berggruen and FJ Labs.

ūüöÄ  Square Earned $37 Million From Bitcoin Trading in Q2
More: Clearbanc Creates New Model For Funding Entrepreneurs, Closes $70M Investment from Top Silicon Valley VCs
Similar: New $100 Million Crypto VC Fund Aims to Bridge Asia With the West



Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.