Clearco of Canada will provide loans to e-commerce companies in the Netherlands. After the United Kingdom, this is the second country where the former Clearbank will start.
The company prefers to describe itself as an e-commerce investor who is proud of its AI platform. Within twenty minutes, based on various issues, determine what risks Clearco will face when investing less than $20,000. No personal guarantee is required, and there is no fixed payment term. However, the loan must be repaid with interest. By the way, several parties provide loans on this basis.
However, since credit applications are not evaluated in accordance with the content, and usually inexperienced entrepreneurs are not given guidance, Clearco takes a big risk. Co-founders Michele Romanow and Andrew D’Souza have extensive experience in providing venture capital, but this formula has not yet been proven.
To date, 4,600 companies in seven countries/regions have invested a total of US$2 billion. A year ago, Clearco had to adjust its policies, and people will start writing conservative checks more frequently. In the beginning, the company even suffered huge losses due to miscalculations.
At present, a lot of funding must be increased: recently, another US$100 million was raised at a valuation of US$2 billion.
The fact that Clearbanc recently changed its name to Clearco is that it makes the credit terms look more interesting than before. For example, the founder claimed that due to “lack of prejudice,” more money went to female entrepreneurs.