Clearbanc empowers entrepreneurs to reach their goals, achieve true freedom and live the life they set out to. Financial services are some of the most powerful and scalable tools that can help these entrepreneurs — arguably more than education, mentorship and infrastructure. The nature of entrepreneurship is changing thanks to online channels and marketplaces. Traditional financial institutions are not well-equipped to respond to this change. Banks are not set up to consume and understand vertical-specific data about their customers for underwriting, so they use personal credit as a proxy, which is very weakly correlated with business viability. Equity capital is also sub-optimal for most small businesses because there is no natural exit. The equity capital underwriting and negotiation process is also inefficient and unscientific. For fast growing businesses, equity capital is an incredibly expensive way to finance repeatable growth, and should be reserved for truly high-risk initiatives such as research and development.
Clearbanc’s first product, a revenue share product for online businesses (initially in the e-commerce category), is designed to be an efficient source of capital for high-growth businesses, which sits between equity and debt from a risk and cost of capital standpoint. It also serves as a wedge product to establish a broader banking relationship with the customer.
We are building a lasting company we can all be proud of. The kind of company you’re excited to tell your friends and family you’re part of. We want to be excited to come to work everyday. Excited to talk to our colleagues and our customers and to share in their success. Life is too short to spend time with people who bring you down.
Since our mission is to help entrepreneurs, we hire entrepreneurial people who can empathize with our customers and who have ambitions to leave their mark on the world.