Clearbanc, an e-commerce investor and funding platform, and Silicon Valley Bank entered a new partnership to accelerate the growth of U.S.-based early-stage technology companies.
Clearbanc expects to deploy more than $50 million in non-dilutive capital to SVB’s U.S.-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 tools for startup companies, including a checking account, business debit card, online banking, several wires each month and ACH payments.
“Clearbanc is a market leader in providing growth and marketing financing for early-stage D2C brands,” Ashraf Hebela, head of startup banking at Silicon Valley Bank, said. “By partnering, our joint U.S. 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 data science, Clearbanc provides non-dilutive, unsecured growth capital to companies not yet a fit for SVB’s lending products. To date, Clearbanc has deployed more than $1 billion to more than 3,300 e-commerce and software companies. Clearbanc has portfolio companies in all 50 U.S. states, including direct-to-consumer brands like Haus, The Sill, Magic Spoon, Public Goods and Farmgirl Flowers. The company also has invested in eight times as many female founders as 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,” Michele Romanow, co-founder and president at Clearbanc, said. “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.”