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Reviews 338
Jürgen Schäfers
May 18,2022Our responsable Coach Jasmina Becker is marvelous. So everything with Clerco is ok. We want to grow up our business with Clerco.
Anthony M
May 18,2022Shambles. Complete shambles. I went through the process and was approved for £42000 + fees = £44500. Added my vendor who they were already aware of and how urgent the supplier needed the funds in order to proceed telex and release my container currently at the port. After adding the vendor, I realised I had no access to the funds as I could not settle the invoice yet Clearco were sending me Payment requests . I was in essence repaying for something I couldn’t access. I Tried phoning only to discover their phone number doesn’t work. It’s fake. Ok. The sales rep who was always at hand prior To me signing and accepting now no longer responds. They finally got back to me advising of the error on their end and promised it had been rectified. I submitted the invoice which they claim was successful. Days went by and yet supplier still haven’t received the funds as such I asked Clearco for a payment slip / confirmation which I could at least share with the supplier only for Clearco to now turnaround and say the payment wasn’t sent because the recipient couldn’t be added. But On your system it states “it’s successful “. I subsequently cancelled my direct debit waiting on a response. I refuse to repay a loan I haven’t even used nor can I access. From your fake telephone number to poor support. It’s all a joke / shady Avoid this firm if you are desperate !
shakib mustafa
May 17,2022I was not sure about the exact payment terms or how everything works. Its my first time lending for my business at any place, so I wanted bit of clarification on how everything works. NOT BEGINNERS FRIENDLY AT ALL, they probably spend all their time with "HIGH SALES" businesses and no time for the small guys. I emailed customer service, Caitlin, and she took 5 days to get back to me, and all I wanted was an explanation how it works. I replied again and she still did not get back to me. They clearly don't want my business and I would rather go with someone else.
Scott
May 11,2022Clearco vendor financing is a great opportunity to fund inventory purchases - but it comes with 3 material flaws: 1) You immediately start paying off the entire balance of the funding even if you have only drawn down a small component. At times you might have paid back more than you have drawn! 2) You immediately start paying off the funding even if the goods you used it to purchase do not arrive for months. Vendor financing usually recognises that you pay the loan back when you start selling the goods the loan purchased. 3) Most importantly, Clearco only pays the supplier directly as "Clear Finance Corp". Many countries and banks require that the "payer on the bank payment" matches the "purchaser on the invoice" for the obvious avoidance of money laundering. We have had multiple payments frozen for this reason. That means the supplier never received the Clearco payment which then requires us to pay for the supply ourselves anyway. Clearco seems to be unaware of the seriousness of breaching banking and payment regulations in some countries.
Guy
May 11,2022So far the process has been very simple with a clear clear offers made that I could choose to take or not. Paul was great in the initial discussions and I had hesitated initially as it seemed a bit too good to be true in some ways. Whilst I still have to pay back the majority of the funds, its been really easy to use and the Clearco funding now replacing our own credit cards on Google Ads spend. Obviously it pays to be cautious but there's no harm in having a chat with them if you think your business needs a funding alternative to the restrictions and paperwork of the traditional banks.
Vitalife
May 06,2022Borrowed and repaid over £120,000 since mid-2020 with no missed or delayed payments at all, we were recently offered a small top-up of £15,000 - accepted it - only to then be told that they can't lend to us because we sell CBD items. We've sold these since day one, well before we drew-down on the other £120k they approved to lend us, whilst selling these same items. We're a longstanding, reliable and (I thought) valued customer, but even after the offer to disable the offending products from our catalogue, they say they cannot lend to us anymore and we need to look elsewhere for other finance partners. Way to be 'for the founders'. Completely unreasonable and unwilling to compromise. Not to mention, this is not the first major run-in with them. They have, in the past, offered us £60k - we accepted - they then rescinded the offer and came back with £28k (yes, less than 50% of the algorithm-generated offer). I understand algorithms have their issues, but this was WAY off the original offer amount. No apology, just excuses regarding the algorithm. They are far from being 'for the founders' - just another large financial institution using very rigid methods of assessment, and applying zero common-sense. And if you think you'll be valued by them because you're a reliable payer and have worked with them on large sums previously - haha. They don't care.
Wyson Gibson Ltd
Apr 27,2022By founders for founders, almost the perfect solution. One massive issue though. The program is marketed as perfect alternative funding bypassing the slow backwards traditional institutions. I switched from Paypal Working capital to avoid doing business with an algorithm, hoping to work with actual people and that's where this has all gone wrong for me. The amazing personal touch of the people I first communicated with when making my application has now been replaced by scripted emails telling me that even though I have made flawless payments and am past the 90% mark I'm now at the mercy of an algorithm with regards to any top ups or further offers. The algorithm apparently places emphasis on evidence of massive growth in the business. This is my first Loan, having pretty much fully repaid both principle and their interest, I have experimented (at my own expense) and learned which growth paths and ideas responded well to increased investment and which ones did not. I have a better idea what I would now do with my next loan. This is simply the way business works and I would have expected our founders to have understood this. Expecting everyone to experience massive growth from their very first loan just seems very unrealistic. I hoped I had finally found a company I could actually work and grow with, one that truly understood the journeys we are on. One that operated in a predictable, reasonable way that I could actually count on and plan my business around. It doesn't quite seem that way. Even though I've paid back my loan in perfect time and without a single bounced direct debit I find myself back where I started with Paypals working capital, praying for the decisions of an algorithm that no one has no control over. The service is an amazing one but if you need predictable dependable access to funds for your business' future, which you can plan around long term, I'm not sure this is it. The whole "Fuel and sustain growth with a steady stream of capital at your disposal", "Instantly top up" and "Access more funds when you need", the very things that got me hooked are simply not really a thing if we are to be completely honest. My business is now dyeing a slow painful death which I'm now at my wits end trying to prevent just because the top-up loan I expected after paying back so faithfully is simply not materializing. Hope this helps someone.
Ricardo Vitorino
Apr 19,2022Absolut unprofessionell. Ich befürchte das hier nur Daten gesammelt werden sollen. Wir haben all unsere Account verknürft bei denen wir insgesamt seit Jahren mehr als 150.000 EUR Umsatz machen. Heute kam eine Ablehnung das sie mit kleinen startups wie unserem mit Umsatz niedriger als 10.000EUR pro Monat nicht gearbeitet werden kann. Hä? Also, für uns absolute Zeitverschwendung.
GradFitness
Apr 09,2022Haben nur gute Erfahrungen mit unserer Beraterin Jasmina. Sie ist immer für uns da, und auch sonst ist Clearco ein total unkompliziertes Zahlungsmittel. Einfach perfekt!
Steve
Apr 07,2022Would highly recommend, 10/10.
Lennart Schott
Apr 06,2022We are being taken care of be Jasmina and it's a please to work with her. She's of great help, always available and really goes out of her way to make all of our requests possible.
Jules Hawkins
Apr 04,2022SPAM - constant spam from this company - and they've got my name wrong, so every three or four days I get Spam addressed to Madeleine. My name is is not Madeleine. here's a selection ... Hey Madelaine, Haven't heard back from you, just don't want this potential opportunity to grow your business slip through the cracks. Maybe I've caught you at a particularly busy time? Lux Tenebrae has amazing potential to grow even more than you are already. Clearco capital can make that happen, but don't take my word for it. We helped fellow European brand Piglet see a 700% increase in their 2020 revenue and 6,900% increase in their 2021 ROAS (Yes, you read those numbers correctly). You can check out their story, along with 26 other client case studies across multiple industries on our website. Let's see if the value they find in us also resonates with you! When are you available to connect for 5 minutes later today or tomorrow? Cheers, Helen Doyle Investment Analyst | Clearco +353 897050360 Helen.doyle.at.clearbanc.com If you'd like me to stop sending you emails, please click here On Wed, Mar 30, 2022 at 6:55 am, Helen Doyle wrote: Hey Madelaine, did you sell out of any key SKUs last year? Given massive supply chain delays worldwide and increasing air / freight costs (I've heard as high as 8x), the founders I'm working with have already started placing orders for mid 2022. Not only has this allowed them to stock up and ensure they don't leave any revenue on the table, but buying in bulk has also enabled them to take advantage of supplier discounts and / or jump the line in production runs. Would love to learn more about a potential fit to help your business grow. Is this something worth exploring? Helen Doyle Investment Analyst | Clearco +353 897050360 Helen.doyle.at.clearbanc.com If you'd like me to stop sending you emails, please click here On Fri, Mar 25, 2022 at 12:24 pm, Helen Doyle wrote: Hi Madelaine, We were named LinkedIn's top startup for 2021, and were also named the Top founder-friendly growth partner by Forbes, Tech Crunch, and The Wall Street Journal. With EU annual inflation expected to reach 5% this year, it is no secret that global interest rates are rising, which means that the cost of capital on standard bank loans is increasing. At Clearco, our cost of capital is not tied to Central Bank Rates, and our cost of capital has actually been decreasing every year since 2018. Are you open to scheduling a short call to discuss? From there we can decide if it makes sense to set up a deeper conversation. Cheers, Helen Helen Doyle Investment Analyst | Clearco +353 897050360 Helen.doyle.at.clearbanc.com If you'd like me to stop sending you emails, please click here On Tue, Mar 22, 2022 at 12:24 pm, Helen Doyle wrote: Hi Madelaine, Wanted to follow up on my previous email in regards to funding for Lux Tenebrae. Clearco is able to deploy €10K-€10M as quick as 24 hours. I have seen companies similar to yours increase their revenue 3-5x in 2021, and I think that Lux Tenebrae can do the same in 2022. Our Growth Capital is best used to scale ongoing expenses such as marketing, inventory, product development, and payroll/hiring to fuel growth. Any thoughts on the above? Helen Doyle Investment Analyst | Clearco +353 897050360 Helen.doyle.at.clearbanc.com If you'd like me to stop sending you emails, please click here On Thu, Mar 17, 2022 at 7:37 am, Helen Doyle wrote: Hi Madelaine, What you have accomplished with Lux Tenebrae is nothing short of amazing. Looking at the the product range you showcase it looks like you are in a wonderful position to capitalise on the growth within the leather goods industry as it is expected to increase by 5.5% during 2021-2026. My name is Helen & I wanted to reach out to see if perhaps I might be able to help you grow your business. Clearco helps brands like yours scale growth by providing the tools to succeed - capital, marketing support, inventory, partnerships + data. 7,000 companies including some of your competitors are with us. We don’t take equity and no personal guarantees. Would you be against a quick call to touch base at some point this week to find out how we could help you grow your business? Best, Helen Doyle Investment Analyst | Clearco +353 897050360 Helen.doyle.at.clearbanc.com If you'd like me to stop sending you emails, please click here
Anh Hue Nguyen Thi
Apr 02,2022Schnell und unkompliziert, kann ich auf jeden Fall weiterempfehlen. Ein riesen Dank geht natürlich an Jasmina, die mich hervorragend begleitet und zur Seite steht.
A Ovidiu
Mar 29,2022An absolute joke, no support, incompetent account managers and not honest.
Brandy Hipp
Mar 23,2022ClearCo is a huge value add for any ecommerce products business. They provide working capital when you need it, with minimal paperwork and they also introduce you to great vendors that help improve your business even more. Highly recommend!!!
Adam
Mar 22,2022Great company 5 ⭐️
N. Desrochers
Mar 17,2022Amazing platform- fast, easy to use, great service. Really, I'm so happy something like this exists.
Melissa Ann Davies
Mar 16,2022I have emails from clearco (formerly clearbanc) that date back to 2018 when I was barely getting started. They still keep me on that mailing list. I guess in late 2021, their email marketing manager came up with some really creative methods, like cc'ing us as if a couple account managers were just talking about how great our company was. Well, we did a little research, even checking LinkedIn and messaging Ben Cogan to see if he knew his name was being thrown around in this manner. Ben seemed to give it the OK! What the heck, we thought, let's go for it! So I booked an appointment with one of their account managers, only to have them cancel once they quizzed us on our monthly revenue. It was kinda rude, but whatever. Then it took like a week to finally get my Shopify account configured correctly because of a bug on the part of clearco's Shopify app. Finally, I thought, we're in! Nope: "Looks like you’re not eligible for Clearco funding yet. You can start building a payment history with Clearco to become eligible for funding." So all this was an elaborate ruse to get me to sign up for a CREDIT CARD?!?!? Oh, and get all my store's revenue and customer information for free? There are much, much easier ways to get funding. Really makes me appreciate how straightforward it was to go through Shopify.
Ankit Modani
Mar 15,2022Cearco is okay, expensive, restricted at many places, not aggressive even if your model is great compared to their peers are in pipeline. Good as a last backup option really.
Chris Symes
May 25,2022Great service from Con who was our onboarding manager, highly suits our business as we turnover our stock quickly and at reasonable margin. We borrowed $170,000 no credit check as it is classed as purchase of forward sales and was happy with the $10,200 fee over the 4-6 month period as we gross much more than this from our items if turned over quickly. Funds were available quickly and portal is easy to use for vendors to be able to pay. Have roughly two repayments left and very happy with the outcome and decision to proceed with Clearco. It worked out for us, but you will need to have high turnover at reasonable gross to justify the equation. Contacted the account manager (you get handed to a different person after onboarding). Told them we wanted another $200,000 for future purposes in a couple of months time once the current agreement was finalised. There was a little confusion, but after a little back and forth we have been able to secure another round and look forward to utilising this facility again. Aaron was quite helpful as our account manager to sort out our account in the end. Love Clearco, Con and Aaron are great. Once again, have to reconfirm that this suits businesses with medium to high turn over at reasonable gross to facilitate the repayments. But 5 star facility in our eyes.