Clearco is a globally recognised e-commerce investor and that is revolutionising the way founders grow their businesses, announced its formal launch into Australia, with a commitment to invest AU$100 million into digital pioneering Australian businesses.
The company has appointed the former Google executive and Limepay co-founder Dan Peters, as Australian Managing Director, tasked with building a strong 20 people team.
Clearco establishes footprint in Australia
Clearco is currently the global leader and pioneer of the revenue based funding sector.
The company’s technology combines Artificial Intelligence and data science to offer fast and affordable funding in the form of non-dilutive capital for e-commerce businesses.
Clearco is a platform offering an alternative to traditional venture capital.
Clearco also provides true, tangible value and services including inventory funding and access to global founders, insights and valuation tools to ensure that founders are successful.
Clearco was founded by tech entrepreneurs Michele Romanow and Andrew D’Souza, and it has invested more than $2.5 billion globally into 5500+ start-ups across three continents.
Australia is the third international market launch for Clearco and a strategic move into APAC.
The company currently maintains operations in the United States of America, Canada, the United Kingdom and Netherlands, with plans to expand across Europe in the pipeline.
Clearco’s Artificial Intelligence driven platform offers blind funding with algorithms that are based on age, gender, race and region thus literally changing the face of investment.
Giving consideration to the company’s impact, in 2020 Clearco funded eight times as many companies headed by female founders as traditional venture capital firms.
In that particular time frame, 13% of Clearco’s funding went to companies headed by founders of colour, compared to 2.6% for traditional venture capital firms.
Clearco facilitates the spreading of wealth geographically.
70% of UK clients of Clearco are located outside of London and in the USA, more than half of the clients are outside of the four major states that are traditional funding hot spots.
Comments on Clearco’s expansion
Co-Founder and President of Clearco Michele Romanow is confidently optimistic.
“Clearco has chosen Australia for our first Southern Hemisphere launch market because it has a dynamic start-up sector which is underserved in the revenue-based finance space.”
“We are delighted to welcome Dan Peters to spearhead our expansion.”
“As both a founder and a senior executive business leader, Dan Peters has the ideal experience and network linkage to meet and exceed our ambitious plans for the region.”
Andrew D’Souza, the Co-Founder and CEO of Clearco is excited with this development.
“We are excited to facilitate the process which is aiming to democratise founder funding and support many exceptionally talented and innovative businesses in Australia.”
“Our technology removes inherent bias that can impact funding decisions.”
“We look forward to working with Australian founders of all ages, genders, races and regions to furnish them with access to capital and data to help them grow their business.”
Dan Peters, Clearco’s Australia Managing Director also expressed his optimism.
“Our goal is to support a thriving start-up ecosystem for Australian nationals and at the same time, drive smarter and more diverse capital into the Australian e-commerce sector.”
“We are confident that we can facilitate these e-commerce businesses to scale, grow, flourish and thereafter, help to drive digital innovation in the Australian economy.”
Dan Peters has more than 20 years of digital experience including over a decade in senior director positions at Google, including as Director of Strategic Partnerships from 2017-2020.
Dan returned to start-ups in 2020 as a co-founder and Chief Revenue Officer at LimePay. He is a co-founder of Cleardocs, a legal-tech solution, which was sold to Thompson Reuters.
