April 2021 — Clearbanc and FirePower were started by entrepreneurs who figured there had to be a better way to support entrepreneurs, and have now partnered to create a better growth experience for business owners across North America.
Andrew D’Souza and Michele Romanow, Co-Founders of Clearbanc, offer ecommerce and other SaaS start-ups an alternative to traditional capital providers in the form of non-dilutive growth capital. To date, Clearbanc has over $1.6B in capital deployed, and 4,000+ companies funded who leverage their program to grow revenues to all-time highs and acquire new customers. Ilan
Jacobson, Founding Partner & CEO of FirePower, reimagined how venture debt, private equity and M&A advisory are delivered to meet the underserved needs of the mid market.
Clearbanc and Firepower remain true to their entrepreneurial roots: both are growing, moving quickly and collaborating with like-minded organizations. The two have now partnered to create an even better “growth experience” for business owners across North America.
Financing the Growth Journey
Every day, Clearbanc and FirePower speak to companies with exceptional plans that are faced with a big decision – how do I grow? It takes capital to scale whether it be investing in inventory, expanding a sales team, adding developers, or buying a competitor. If a company decides to go down the venture capital or private equity route too early they end up having to give up a significant percentage of the business.
This is where the power of the Clearbanc / FirePower partnership comes in. Clearbanc’s growth capital and SaaS offerings and FirePower’s Gap Debt and Private Credit products are non-dilutive financing options for growing companies that are available and relevant regardless of their stage of growth.
Clearbanc gets started as low as $10k up to $10m for eCommerce and SaaS businesses. FirePower lends between $1m to $60m to companies that have excellent visibility into their future cash flows. They can burn cash today, but must have a well-defined plan to profitability.
Combined, Clearbanc and FirePower can invest as little as $10K and up to $60M, with terms and conditions that are developed by founders, for founders.
Considering an Exit
Using Clearbanc’s Valuation tool and FirePower’s M&A Advisory practice, company founders can now access an end-to-end M&A sell-side experience, supported by FirePower’s transactional know-how, network and experience. Their M&A Advisory team has a track record making it one of the most active independent groups in Canada, and is working on live deals with an aggregate value of approx. $1B.
Importantly, crafting and telling the right story to the right buyer is imperative to delivering great outcomes for companies going through an M&A process. On that, Ilan says, “As entrepreneurs ourselves, we communicate the narrative of our clients in a more compelling, pragmatic and enthusiastic fashion than a traditional banker — that resonates with buyers.” Of note, FirePower is the exclusive Canadian member of Mergers Alliance, which unlocks local representation in over 20 international markets to ensure the most relevant buyers see the opportunity first-hand.
Founded in 2015 by Michele Romanow (Canada’s Shark Tank), Andrew D’Souza, Ivan Gritsiniak, Charlie Feng, and Tanay Delima, Clearbanc is changing the way companies raise money by providing fast, affordable capital to online brands and B2B SaaS companies.
Clearbanc’s data-driven algorithm has invested in 4,000+ companies across 50 states and backed 8x more female-founders than traditional VC. Clearbanc customers span small businesses across the United States, Canada, and the UK to some of the fastest-growing consumer brands today, like Le Tote, Leesa Sleep, Farmgirl Flowers, and Public Goods. For more information visit Clearbanc.com.
About FirePower Capital
FirePower Capital is the private capital and M&A advisory firm built for Canada’s entrepreneurs. Its team of 40+ deal professionals helps mid-market businesses complete mission-critical transactions, by advising them or investing in their companies directly. FirePower Capital has offices in Toronto and Montréal. For additional information, please visit FirePower Capital’s website: www.firepowercapital.com.