E-Commerce Investor Company Clearco Closes $215 Million

By Amit Chowdhry ● Jul 11, 2021
  • Clearco — the world’s largest e-commerce investor — announced that it raised $215 million in funding led by new investor SoftBank Vision Fund 2. These are the details.

Clearco — the world’s largest e-commerce investor — announced that it raised $215 million in funding led by new investor SoftBank Vision Fund 2 to continue to propel the company’s growth and suite of founder-first hub of products.

The SoftBank Vision Fund 2’s participation in this new round of financing significantly contributes to the momentum and advancement of Clearco’s vision towards a broad and diverse hub of growth products and services that effectively remove barriers founders traditionally face — including giving up equity in exchange for capital, inventory funding, and data that drives growth and operational efficiency.

As Clearco is continuing to rapidly expand its international footprint and operations led by the recent hires of Ruma Bose (Chief Growth Officer) and Sarah Clark (Head of UK), SoftBank Vision Fund 2’s investment also adds strategic capital to accelerate plans of market expansion. And also joining Clearco this month are newly appointed executives Satwik Seshasai (Chief Technology Officer) joining from Compass and Katrina Shackelford (VP of Product) joining from Amazon.

Softbank Investment Advisers’ Kristin Bannon led the new funding round. And additionally, Intuit, Bow Capital, and Park West joined.

KEY QUOTES:

“Softbank’s investment during a moment where we are accelerating at breakneck speed and leading a founder’s revolution is both humbling and exciting as we continue to work towards removing archaic barriers and offer an alternative and accessible solution for founders all around the world. We continue to be wholly committed to our vision of changing the trajectory of what it means to attain capital to grow your business and the full-service tools to be successful, whether that be strategic guidance, access to a powerful network of partners or valuation tools that allow founders to accelerate the growth of their business.”

— Co-Founder and President Michele Romanow

“We’re a company that was built by founders for founders, and we’ve all faced the same issues we are working to not only solve but replace with better products and opportunities through an entire new category. We’ve invested over US$2.4 billion in nearly 5,500+ companies with a platform we know our founders need and this round allows us to continue building a world-class suite of services that founders deserve to grow their business.”

— Co-Founder and CEO Andrew D’Souza

“Clearco is a market leader who has created an entire industry that is fiercely dedicated to democratizing access to capital and a full suite of services that serve the founder journey. We’re excited to partner with Andrew, Michele, and the Clearco team as they aim to transform the e-commerce industry.”

— Kristin Bannon, Director at SoftBank Investment Advisers