Australia’s vibrant startup sector lures Canadian firm Clearco to set up shop

November 23, 2021

Canadian revenue-based finance company Clearco has opened in Australia. The Toronto-based global company has pledged to invest A$100 million in Australian e-commerce businesses.

Capital, ideas and advice for Australian startups

Clearco was founded as Clearbanc in 2015. The company offers capital solutions for e-commerce, mobile applications, software-as-a-service startups, scale-ups and mature enterprises. The company also offers data and information, as well as access to a global network. She has invested over US$2.5 billion in over 5,500 startups on 3 continents.

Clearco’s “founder-friendly” investment model is disrupting the way startups access capital. Unlike other venture capitalists, the company does not take an equity stake in a company. Unlike banks, it does not take personal guarantees. Instead, it charges a fixed 6% fee, which the company pays back when it starts generating revenue.

Australia is Clearco’s third international market and its first market in the southern hemisphere. Australia is a vital part of the APAC region and the company’s first launch in the region.

‘[Australia has] a vibrant startup sector that is underserved in the revenue-based finance spacesays Michele Romanow, president and co-founder of Clearco.

“We’ve seen over 100 Australian startups valued at over $100m or more. Companies like Canva and Afterpay are playing on the global stage,” says Dan Peters, managing director of Clearco Australia.

“Australia is going through an e-commerce and startup boom. This is partially accelerated by the pandemic but also driven by global support for Australian innovation.

“We believe that many founders are often overlooked by Australian venture capital firms and banks,” adds Peters. “We see a unique opportunity to build an Australian team, led by Australians, breaking down barriers for Australian founders.”

Clearco has already invested in Australian companies such as Beard Market, Vegan Grocery Store and Jolyn swimwear. E-commerce startups can access capital within 24-48 hours of applying to Clearco. Australia is an attractive market given its unique geographic location and local business orientation.

How Austrade has helped

Australian government officials in Canada were proactive and helpful in providing local information to help maximize Clearco’s launch in the region.

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