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Clearbanc, Silicon Valley Bank Partner to Power New Capital Program for Pre-Venture Funded Startups

December 08, 2020, 09:00 AM
Filed Under: New Venture

Clearbanc, the world's largest e-commerce investor and funding platform, and Silicon Valley Bank (SVB), the bank of the world's most innovative companies and their investors, today announced a new partnership to accelerate the growth of US-based early-stage technology companies.  

Clearbanc expects to deploy more than $50 Million in non-dilutive capital to SVB's US-based Startup Banking software and e-commerce clients to help advance their businesses. The partnership's joint offering provides eligible SaaS and e-commerce companies with access to Clearbanc's revenue-based advances, which can be used for growth, advertising spend and Clearbanc's recently launched Inventory Financing product. The offer also includes discounted fees and a complementary valuation consultation using Clearbanc Valuation. Companies will have access to SVB Edge, which offers everything a young company needs to jump-start its business from day one, including a checking account, business debit card, online banking, several wires each month, unlimited ACH payments and more. SVB has partnered with thousands of founders for more than 35 years and works with half of all venture-backed tech and life science companies in the US.

"Clearbanc is a market leader in providing growth and marketing financing for early-stage D2C brands," says Ashraf Hebela, Head of Startup Banking at Silicon Valley Bank. "By partnering, our joint US clients can accelerate their growth with financing from Clearbanc and banking products and services from SVB. As companies continue to scale, there is a seamless transition from Clearbanc capital to SVB debt."

Through a combination of AI and complex data science, Clearbanc provides non-dilutive, unsecured growth capital to companies not yet a fit for SVB's lending products. Clearbanc's proprietary algorithm is what allows them to issue personalized funding offers in as little as 20 minutes.

To date, Clearbanc has deployed more than $1 billion to over 3,300 e-commerce and software companies, helping founders across multiple industries scale and grow their business. As a result, Clearbanc has portfolio companies in all 50 US States, including leading D2C brands like Haus, The Sill, Magic Spoon, Public Goods and Farmgirl Flowers, and has invested in 8x more female founders than traditional VC firms to date.

"Silicon Valley Bank has been the bank of choice for some of the world's most iconic founders and investors for decades," says Michele Romanow, Co-Founder and President at Clearbanc. "Clearbanc is the pioneer of a new funding model for a new generation of entrepreneurs, and this partnership allows both Clearbanc and SVB to combine our biggest strengths and provide a suite of financial products to fuel the next wave of entrepreneurship and innovation."

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