Clearco announced several recapitalization efforts Wednesday, including a $60 million Series D round and new asset-backed financing. The facility provides up to $100 million in financing capacity and will support $850 million of Clearco originations over the next two years. Toronto-based Clearco uses AI and proprietary machine learning-based technology to underwrite businesses and help customers fund inventory and marketing invoices of between $10,000 and $2 million. To date, the company has financed over 10,000 companies with more than $2.5 billion. The company was founded as Clearbanc in 2015, and provided capital to e-commerce founders growing their businesses without equity dilution, hidden fees or compounding cost of capital. Today marks a turnaround for a company that’s had its share of ups and downs over the past year. At the beginning of this year, the company made a second round of layoffs and saw its co-founder and CEO Michele Romanow step down. That’s when Andrew Curtis, who joined the company in July 2022, was named CEO. He told TechCrunch that his goals when stepping into the role …

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