How a partnership between Clearco and Cart.com embeds financing at the ecommerce platform level
- Clearco, formerly Clearbanc, is working with Cart.com to provide revenue-based financing to ecommerce businesses.
- The solution combines capital with ecommerce software, technology and services to set itself apart from other ecommerce lenders.
Clearco, a Toronto-based company that provides capital to ecommerce businesses, has announced a partnership with Cart.com, an ecommerce-as-a-service firm, to improve financing options for ecommerce companies. Through this collaboration, Cart.com’s customers would be able to access Clearco’s financing services from within the Cart.com dashboard.
Owners of ecommerce businesses can choose one of three different funding options, ranging from $10,000 to $10 million, which they will receive within 24 hours. They can also access up to $1 million in inventory support to help meet initial costs and free up cash flow.
Clearco uses a revenue-based financing model, which means business owners don’t need to give up equity or control of their company. “You’ve worked hard to build your business – you should own 100% of it,” reads the announcement post on Clearco’s website. Instead of giving up shares of their company, business owners repay the funds from future revenue, and can choose what percentage of their daily sales would be shared with Clearco.
At the other end of the bargain, the collaboration will provide Clearco’s portfolio of over 5,500 companies with access to Cart.com’s ecommerce platform. Founded in September 2020, Cart.com has grown rapidly and raised over $140 million in funding. It currently provides over 2,500 brands with ecommerce software, fulfillment capabilities, multichannel marketing, and customer service, which can now be used by Clearco’s customers to help build and grow their online presence.
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