The e-commerce investor, formerly known as Clearbanc, announced on July 8 its new round of funding led by investor SoftBank under its Vision Fund 2.
Clearco gives capital to companies for growth without taking an equity stake, and in return, brand partners pay Clearco a share of their revenue. Since its creation in 2015, the firm has funded over 5,500 companies, totalling more than $2.4 billion in investment volume.
“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, cofounder and president Michele Romanow said in a statement.
Last month, Clearco announced a $50 million financing partnership with Creative Artists Agency (CAA), one of the biggest talent agencies in the US, to fund an entity that will pair up brands with potential celebrity partners.