Funding round
Clearco Series A
Clearco, which works in business funding solutions delivery in Toronto, raised $70M in a Series A round announced on 1 Jan 2018. 5 firms took part. It is Clearco's first venture round on record.
$70M
Amount raised
Not disclosed
Post-money valuation
5
Investors
no lead named
Valuation
What this round says about the price
Clearco did not disclose a valuation in this round. It is Clearco's first venture round on record, 3 years after it was founded in 2015. It is 8.8% of the $795M Clearco has raised in the venture rounds on record. Clearco raised again 11 months later: a Growth round of $50M in Dec 2018. Its next priced round, a Series C in Apr 2021, valued it at $2.00B.
Clearco's funding rounds
Clearco has 6 venture rounds on record and 2 other deals. This one is highlighted.
- Series A this round 1 Jan 2018 $70M
- Growth 18 Dec 2018, led by Upper90 $50M
- Series B 9 Aug 2019, led by Highland Capital $300M
- Debt not a venture round 1 Oct 2019 $250M
- Series C 20 Apr 2021, led by Oak HC/FT $100M$2.00B post-money
- Growth 8 Jul 2021, led by SoftBank Vision Fund $215M
- Series D 4 Oct 2023, led by Inovia and Founders Circle Capital $60M
- Debt not a venture round 18 Aug 2026, led by Macquarie $100M
Investors
Who put money in
5 firms took part; no lead investor was named.
Investors
- backs 96 venture-backed companies new investor
- Social Capital backs 94 venture-backed companies new investor
- backs 15 venture-backed companies new investor
- Founders Fund backs 368 venture-backed companies new investor
- 8VC new investor
Joined the board: Santi Subotovsky (Emergence Capital).
Use of proceeds
What the money is for
According to the announcement, the money goes to geographic expansion.
- Geographic expansion
Comparable rounds
How it compares
26 Series A rounds in Loans & Financing within a year either side disclosed an amount; the median was $7.7M, and this round was 9.1 times the median. The closest in time, other companies' Series A rounds in Loans & Financing:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Loans & Financing | 1 Jan 2018 | $6.6M | not disclosed | Innova Capital |
| Loans & Financing | 1 Jan 2018 | $4.2M | not disclosed | Saama |
| Loans & Financing | 21 Feb 2018 | $5.9M | not disclosed | Accel and Northzone |
| Loans & Financing | 4 Oct 2017 | $53M | not disclosed | Legal & General |
| Hometap Loans & Financing | 20 Apr 2018 | $12M | not disclosed | G20 Ventures |
| Loans & Financing | 7 Oct 2017 | $9.2M | not disclosed | Berlin Hyp |
| Loans & Financing | 2 Oct 2017 | $5.0M | not disclosed | Riyad TAQNIA Fund |
| Loans & Financing | 2 Apr 2018 | $3.6M | not disclosed | VEF |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did Clearco raise in its Series A round?
Clearco raised $70M in its Series A round, announced in Jan 2018.
Which investors took part in Clearco's Series A round?
Emergence Capital, Social Capital, Treville Capital Group, Founders Fund and 8VC.
What was Clearco's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Loans & Financing?
26 Series A rounds in Loans & Financing within a year either side disclosed an amount; the median was $7.7M, and this round was 9.1 times the median.
Did Clearco raise again after this round?
Yes: a Growth round in Dec 2018 of $50M.