Canadian e-commerce lender Clearco to the Netherlands

The Canadian Clearco will provide loans to e-commerce companies in the Netherlands. After the UK, it is the second country where the former Clearbanc will start.

The company prefers to profile itself as an ecommerce investor that prides itself on its AI platform. In twenty minutes, based on all kinds of questions, it is determined which risks Clearco runs with investments up to $ 20,000. No personal guarantee is required and there is no fixed payment term. However, the loan must be repaid with interest. Incidentally, there are several parties that provide loans on this basis.

But because the credit applications are not assessed in terms of content, and the often inexperienced entrepreneurs are not guided, Clearco runs a considerable risk. Co-founders Michele Romanow and Andrew D’Souza have extensive experience in providing venture capital, but the formula has yet to prove itself.

Investments have so far amounted to $ 2 billion in 4,600 companies in seven countries. A year ago, Clearco had to adjust its policy and people would start writing conservative checks more often. In the beginning, the company even suffered significant losses due to incorrect estimates.

For the time being, a lot of money has to be added: recently another 100 million dollars was raised against a valuation of 2 billion.

The fact that Clearbanc has recently renamed itself Clearco is to make the credit provision seem more interesting than it is. For example, the founders claim that more money is going to female entrepreneurs because of ‘lack of bias’.


Source: Nieuws – Emerce by www.emerce.nl.

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