Funding round
Clearco Series D
Clearco, which works in business funding solutions delivery in Toronto, raised $60M in a Series D round announced on 4 Oct 2023, led by Inovia and Founders Circle Capital. 2 firms took part, 2 of them already investors. It is Clearco's sixth venture round on record; the one before was a Growth in Jul 2021.
$60M
Amount raised
Not disclosed
Post-money valuation
2
Investors
2 leads
Valuation
What this round says about the price
Clearco did not disclose a valuation in this round; its last disclosed one was $2.00B at the Series C (Apr 2021). It came 27 months after Clearco's Growth. It is 7.5% of the $795M Clearco has raised in the venture rounds on record. No later venture round is on record for Clearco.
Clearco's funding rounds
Clearco has 6 venture rounds on record and 2 other deals. This one is highlighted.
- Series A 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 this round 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
Inovia and Founders Circle Capital led the round. Inovia and Founders Circle Capital had backed Clearco before.
Lead investors
- Inovia backs 120 venture-backed companies existing investor
- backs 24 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to sales and marketing, scaling operations and working capital.
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
8 Series D rounds in Loans & Financing within a year either side disclosed an amount; the median was $80M, and this round was 75% of the median. The closest in time, other companies' Series D rounds in Loans & Financing:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Loans & Financing | 10 Nov 2023 | $60M | $1.05B | not named |
| Loans & Financing | 24 Mar 2023 | $270M | not disclosed | Mizuho Bank |
| Kredivo Group Loans & Financing | 23 Mar 2023 | $270M | not disclosed | Mizuho Financial Group Inc. |
| Loans & Financing | 8 Mar 2023 | $110M | not disclosed | Premji Invest |
| KreditBee Loans & Financing | 2 Dec 2022 | $80M | not disclosed | Premji Invest |
| Loans & Financing | 15 Dec 2022 | $36M | not disclosed | FMO |
| Loans & Financing | 13 Aug 2024 | $21M | not disclosed | SMBC Asia Rising Fund |
| Loans & Financing | 3 Oct 2022 | $80M | $855M | Sway Capital |
Sources
Where this comes from
Reported by 7 sources.
Questions
Frequently asked
How much did Clearco raise in its Series D round?
Clearco raised $60M in its Series D round, announced in Oct 2023.
Who led Clearco's Series D round?
Inovia and Founders Circle Capital led it.
What was Clearco's valuation at the Series D round?
It was not disclosed; its last disclosed one was $2.00B at the Series C (Apr 2021).
How does it compare with other Series D rounds in Loans & Financing?
8 Series D rounds in Loans & Financing within a year either side disclosed an amount; the median was $80M, and this round was 75% of the median.