Total amount raised
$41 Million
Latest funding date
04/01/2023
Location
Clerkie has successfully raised funding over three rounds, with the latest being a Series A round led by Ironwood Ventures and Left Lane Capital. The platform is designed to simplify debt repayment and financial management through a full-service automation system powered by machine learning and human expertise.
Keep reading to explore the intricacies of Clerkie's fundraising journey and the investors backing this innovative platform.
What Is Clerkie?
Clerkie is a FinTech company based in San Francisco, California, specializing in debt repayment and financial optimization. The platform leverages artificial intelligence and machine learning to provide personalized financial plans and actionable insights.
Founded with the mission to simplify financial management, Clerkie employs a team of 11-50 people. The company offers a range of services, including smart payment arrangements and AI-driven repayment strategies, aimed at maximizing returns for lenders and simplifying the loan management process for borrowers.
How Much Funding Has Clerkie Raised?
- Pre-Seed Round
- Amount Raised: USD 2,000,000
- Date: May 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and initial development.
- Seed Round
- Amount Raised: USD 6,000,000
- Date: December 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and launch Clerkie's AI-powered financial automation platform during the pandemic.
- Series A Round
- Amount Raised: USD 33,000,000
- Date: April 2023
- Lead Investors: Ironwood Ventures, Left Lane Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To grow the engineering team and rapidly scale the company's debt workout solutions to support more partners and help more borrowers.
Total Amount Raised: USD 41,000,000. Current Valuation: Not publicly disclosed.
Key Investors
- Left Lane Capital
- Details: Left Lane Capital is a New York-based global venture capital and growth equity firm founded in 2019. They invest in internet and technology companies with a consumer orientation.
- Investment Focus Areas: Internet and technology companies, software, healthcare, e-commerce, consumer, fintech, edtech.
- Notable Investments: GoStudent, M1 Finance, Wayflyer.
- Wellington Management Company
- Details: Wellington Management Company is a global investment management firm. They manage assets for institutions and private investors worldwide.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: Airbnb, Robinhood.
- Flourish Ventures
- Details: Flourish Ventures is a venture firm focused on financial health and inclusion. They invest in entrepreneurs whose innovations advance financial health and economic opportunity.
- Investment Focus Areas: Financial health, financial inclusion, fintech.
- Notable Investments: Aspiration, Chime.
- Citi Ventures
- Details: Citi Ventures is the venture capital arm of Citigroup. They invest in innovative startups in financial services and technology.
- Investment Focus Areas: Fintech, data analytics, enterprise solutions.
- Notable Investments: Betterment, Plaid.
- CMFG Ventures
- Details: CMFG Ventures is the venture capital entity of CUNA Mutual Group. They focus on strategic investments in financial services and technology.
- Investment Focus Areas: Fintech, insurtech, financial services.
- Notable Investments: CuneXus, ForeverCar.
What's Next for Clerkie?
Clerkie stands at the cusp of significant growth, buoyed by a $33 million Series A funding round. This financial boost positions the company to expand its engineering team and scale its debt workout solutions, addressing the vast consumer debt market in the U.S. With tens of millions of Americans struggling with debt, the opportunity for Clerkie to provide personalized debt management tools is immense.
Future fundraising opportunities appear promising, with potential for subsequent funding rounds as the company scales. Strategic partnerships with financial institutions and venture capital firms could further bolster Clerkie's growth. However, the company may face challenges such as competition from other FinTech firms, regulatory hurdles, and ensuring data privacy and security for users.
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