As a startup ecosystem builder and veteran, Andrea Li, the VP, Head of International at Clearco, says she’s particularly excited about bringing Clearco, one of the largest digital commerce funders, to Germany, which is one of the world’s largest e-commerce economies.
Clearco provides equity-free capital “to businesses, direct-to-consumer brands, and small- to medium-sized enterprises through revenue-based finance solutions.”
Li writes in a blog post that they’ve already “funded businesses in the United States, Canada, Australia, the United Kingdom, Ireland, and the Netherlands.”
She adds that this is why she’s thrilled Clearco “is expanding to Germany and has committed €500 million to grow German companies.”
She also mentioned that e-commerce in Germany “has seen astonishing growth over the last few years, and is expected to reach US$141bn by the end of 2022.”
Li further noted that Germany is also “a beautiful melting pot of cultures, ideas, and disciplinaries.” This is “what makes it such an innovative and creative place.”
She continued:
“Clearco’s mission is to democratize access to capital. We do this via our proprietary data-driven algorithm that funds purely based on business performance. In other words, we take the bias out of funding.”
She also mentioned that in Europe, female-founded startups “account for just 1.3% of venture-capital funding raised since 2017.”
They know Germany “is actively working towards closing the gender funding gap, and [they’re] thrilled to be part of this story.”
To date, Clearco has “deployed US$3.2bn in fair and fast capital to more than 7,000 companies.”
They’ve reportedly “funded 25-times more female-founded ventures than traditional VC, and 30% of our founders are BIPOC (Black, Indigenous, or people of color).”
So it’s “no coincidence that we’ve brought Mariam Koorang on board as General Manager of Germany.”
Mariam is “a multi-time founder whose career has transcended food-and-beverage, e-commerce, and B2B marketplaces.” In addition to this, Mariam is also “a mentor at the European Innovation Council Women Leadership Program.”
Li also shared:
“And the most beautiful part: Mariam herself could have been one of Clearco’s customers. At Clearco, we recruit leaders for their connection to, and understanding of, the founders we fund. Mariam knows first-hand the challenges founders run into, and what they need to be successful. From growing the business, to building the right product, to ensuring that your customers are happy. We’re thrilled to have her build our Germany ecosystem with deep industry expertise, empathy, and compassion.”
She added:
“We’re at an inflection point. Bias-free capital is trending as a better, more affordable, and hassle-free option to traditional forms of funding. All you need is an idea, which we know is plentiful in Germany.”
She also noted:
“I’d encourage e-commerce founders to engage with us – there’s just too much to do when you’re building a business. Let Clearco help you with fast, straightforward capital so you can focus on what matters – building your business, your way without losing any control.”
Li added that their product “is truly built by founders, for founders. No personal guarantee, no fixed repayment dates.”
She now looks forward “to welcoming many founders and entrepreneurs to Clearco’s ever-expanding ecosystem in the coming months and years.” She also looks forward “to helping futurepreneurs actualize their visions and dreams.”
For more details on this update, check here.