As part of a complex recapitalisation strategy, Toronto-based fintech startup Clearco has secured a new asset-backed financing facility of up to US100m from Pollen Street Capital and US$60m in Series D funding led by existing investors Inovia Capital and Founders Circle Capital.
Last years, Clearco has faced significant challenges and struggled as economic conditions have worsened: interest rates have risen, and funds have become more difficult to secure. As a result, Clearco pulled out of all overseas markets, including the United Kingdom, Ireland, Germany, and Australia and remained to focus only on North America.
