Clearco partners with California’s MicroAquire to help founders find acquisitions

Toronto-based founder support startup Clearco is partnering with San Mateo, California-based MicroAcquire in a collaboration aimed at helping Clearco’s founders find acquisitions.

The partnership will pilot in Canada, the United States, and the United Kingdom.

Clearco aids founders with non-dilutive financing, helping them grow without sacrificing equity.

Where MicroAcquire helps startups get acquired, Clearco assists with funding, particularly through its Clear Angel platform.

MicroAcquire is a startup acquisition marketplace that has helped thousands of founders exit through the provision of an anonymous, free platform where buyers and sellers meet.

Where MicroAcquire helps startups get acquired, Clearco assists with funding, particularly through its Clear Angel platform that offers entrepreneurs equity-free capital.

“The problem is traditional financing hasn’t got its head around ecommerce yet,” said Andrew D’Souza, CEO of Clearco. “Banks fuss over valuations and financials without understanding the business model or growth levers.”

D’Souza noted that if after weeks of consultation an entrepreneur’s request for financing hasn’t been denied, then they should “expect onerous terms and personal guarantees that leave you responsible should the acquisition fail. It’s enough to scare anyone off acquiring a startup – especially first-time buyers.”

The Clearco partnership with MicroAcquire is meant to “democratize growth for entrepreneurs in what has long been a tough and antiquated process,” according to D’Souza.

Clearco has been expanding its product offerings. In July, Clearco launched ClearMatch, a recommendation product that helps companies identify growth opportunities through partnerships. At the time, Clearco said ClearMatch “underscores the company’s long-term vision of providing data-driven solutions and founder-friendly products beyond capital.”

RELATED: Clearco launches new partnership recommendation service as part of push to serve founders “beyond capital”

The launch of ClearMatch came just weeks after Clearco secured $268 million CAD in a new round of equity capital led by SoftBank Vision Fund 2.

Clearco launched in 2015 as Clearbanc, and since then has provided over $2 billion USD to more than 5,500 companies in seven countries. In April, the startup secured $125 million CAD of equity financing and $313 million CAD in debt to fuel its growth. The Series C round also made the company Canada’s newest unicorn, with a reported valuation of close to $2 billion USD ($2.5 billion CAD).

At the same time, emphasizing its move beyond equity-free investing, the company has also removed the bank reference from its name and re-branded to Clearco.

MicroAquire aligns perfectly with Clearco to help founders succeed, according to MicroAcquire Founder, Andrew Gazdecki.

By working with Clearco, entrepreneurs can find the right startup and the means of acquiring it on a single platform, widening the buyer pool for founders,” Gazdecki said. “This is our first step towards bringing a fragmented acquisition market together so entrepreneurs have everything they need to succeed. I couldn’t be more excited to partner with the Clearco team and help 1,000s of entrepreneurs get acquired.”

Feature image courtesy Clearco

Charles Mandel

Charles Mandel

Charles Mandel's reporting and writing on technology has appeared in, Canadian Business, Report on Business Magazine, Canada's National Observer, The Globe and Mail, and the National Post, among many others. He lives off-grid in Nova Scotia.

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