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Clearco launches in Australia with $100m to invest

Clearco, one of the world’s largest e-commerce investors, has launched in Australia with a plan to put at least $100 million into digital-first businesses.

Founded in 2015, the business has financed over 550 businesses to date, and recently secured $215 million in funding from Softbank.

“Our goal is to support a thriving start-up ecosystem for Australia and drive smarter and more diverse capital into Australian e-commerce businesses,” said Clearco Australia managing director Dan Peters.

“We want to see businesses grow and flourish and drive innovation in the Australian economy.”

Businesses such as grooming marketplace Beard Market, specialty grocer The Vegan Grocery Store, and swimwear brand Jolyn have already seen funding.

According to Beard Market founder Onur Cam, who received funding from Clearco in May, it has since seen revenue growth of 200 per cent.

“[It’s] a fiercely competitive option and the most profitable for my business, [and is] my first and online choice for financing,” said Cam.

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