About
Clearco provides revenue-based financing for ecommerce and SaaS companies. Advanced $2.5B+ to 10,000+ businesses. Raised $1B+ including SoftBank-led rounds, then restructured after 2022 difficulties with $60M Series D (2023). Tripled advances in 2024 under new CEO. Founded by Michele Romanow. Recovering after layoffs and leadership changes.
Key Facts
- [1]Founded: Founded in 2015 in Toronto, Canada.
- [2]Funding: Total funding: $1.1B. Last round: Aug 2024. Stage: Late Stage.
- [3]Employees: Employee count: 51-200.
- [4]Website: Official website: clear.co.
- [5]AI Technology: Core AI/ML technologies: Predictive ML.
- [6]Region: Region: Americas (Canada).
Founders
Andrew D'Souza
Co-founder & CEO
Michele Romanow
Co-founder
AI Technology
Predictive ML
Traditional ML algorithms for classification, regression, and scoring models
Classification
Market Segments
Tech Stack Layers
Details
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Frequently Asked Questions
What is Clearco?
Clearco provides revenue-based financing for ecommerce and SaaS companies. Advanced $2.5B+ to 10,000+ businesses. Raised $1B+ including SoftBank-led rounds, then restructured after 2022 difficulties with $60M Series D (2023). Tripled advances in 2024 under new CEO. Founded by Michele Romanow. Recovering after layoffs and leadership changes. Clearco is classified in the Lending & Credit segment at the Applications layer of the financial AI stack.
Who founded Clearco?
Clearco was founded by Andrew D'Souza (Co-founder & CEO) and Michele Romanow (Co-founder) in 2015 in Toronto, Canada. The company has been operating for 11 years.
How much funding has Clearco raised?
Clearco has raised $1.1B in total funding, placing the company at the Late Stage stage. The most recent round closed in Aug 2024. Among 81 funded Lending & Credit companies, Clearco ranks #13 by total capital raised. (Source: AIFI Map directory.)
What AI technology does Clearco use?
Clearco primarily leverages Predictive ML technology. Traditional ML algorithms for classification, regression, and scoring models. Within the Lending & Credit segment, 58 companies use this technology.
What market segment does Clearco operate in?
Clearco operates in the Lending & Credit market segment. AI lending and credit companies are reimagining how creditworthiness is assessed, loans are originated, and debt is managed across consumer, small business, and commercial markets.
Where is Clearco headquartered?
Clearco is headquartered in Toronto, Canada. The company operates in the Americas region. The team consists of 51-200 employees. Canada is home to 8 financial AI companies tracked by AIFI Map.
Who are Clearco's competitors?
Companies similar to Clearco in the Lending & Credit space include Unit21 ($92M raised), Upstart ($160M raised), Zest AI ($357M raised), Pagaya ($75M raised), Scienaptic AI ($17M raised). These companies operate in related areas of financial AI: Unit21 focuses on ai-powered fraud and aml platform. Upstart focuses on ai lending platform using alternative data for credit decisions. Zest AI focuses on ai-automated underwriting for credit unions and banks. (Based on AIFI Map classification data.)
What products does Clearco offer?
Clearco builds applications-layer solutions for the financial services industry. The company's core offering: AI revenue-based financing. The platform is powered by Predictive ML technology.