Clearbanc has raised $300 million in Series B funding to fund e-commerce entrepreneurs. 🔐
“Growth capital” provider Clearbanc has raised $300 million in Series B funding that will further propel the company in its mission to fund e-commerce entrepreneurs.
Michele Romanow, cofounder and president of Clearbanc, told WWD that venture capital isn’t the best model for every business. She noted that if you have a product that sells for $50 and it costs you $10, “that’s a great business,” she said, but not necessarily a business that’s worth giving up equity to an investor.
Romanow said it might seem “counterintuitive to be raising capital, but it’s quite strategic — we’re raising more capital to build a new asset class,” she explained. “Equity is part of an entrepreneur’s toolkit, but we fundamentally believe it’s the wrong tool to fund the repeatable parts of your business like digital ad spend. We encourage companies to spend equity on technical risk and R&D, and that’s exactly where we’re putting this Series B.
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