Written by Alex Bredeen
Clearco and Outfund announce strategic partnership
Huge news coming from Fuel Portfolio Outfund! Clearco and Outfund have announced a strategic partnership to provide access to the largest and most founder-friendly International revenue-based funding company. The partnership enables small businesses across the world to access the highest quality and fastest equity-free financing as they grow.
Outfund is the UK and Australia’s largest eCommerce investor and has committed to investing £500M in small businesses in 2022. Clearco has invested over $3.2 billion in companies globally, with $429M invested in companies outside of the US and Canada.
Revenue-based funding is revolutionising the way founders grow their businesses. Together, Clearco and Outfund will bring best in class revenue-based funding services to the international markets they operate in, including the UK, Ireland, Germany, Spain, Netherlands and Australia. Their combined offerings provide international founders with fast and affordable funding in the form of non-dilutive capital, without personal guarantees. Their services also provide true, tangible value and services including inventory funding and access to a global founder community, as well as insights and valuation tools to ensure its founders are successful.
In light of the partnership, Clearco has renewed its focus on its two core and largest markets, US and Canada, home to 80% of their investments. The partnership does not include any of Clearco’s staff, technology or operations. Each departing employee will receive severance pay, two year window to exercise equity and outplacement support including expedited interviews with multiple partners.
Michele Romanow, Founder and CEO of Clearco comments: “As we shift our focus to our Canadian and US business for the time being, finding a partner for our International clients that shares our mission to democratise funding for founders has been our focus. We are confident that this is the best decision for our customers who will continue to benefit from Outfund’s revenue-based financing model without ever having to give up equity in their businesses. It is of course with great regret that we have had to let our international team go as part of this partnership. They are a hugely talented team and we are confident that we will be able to support them in their next steps.”
Daniel Lipinski, Founder & CEO, Outfund comments: “We look forward to welcoming Clearco’s international customers to Outfund. Our two companies are both offering best-in-class revenue based financing solutions and we are confident that Clearco’s customers will benefit from our funding options and support, particularly our UK & Australia based team. The partnership represents continued growth for Outfund internationally.”