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geekspeak Commerce Partners with Clearbanc to Make Funding More Accessible for Online Entrepreneurs
Thursday, July 18, 2019

Through the partnership, fast-growing eCommerce companies making at least $10k per month can quickly and easily secure funding for digital marketing initiatives.

WHITBY, Ontario, July 18, 2019 /PRNewswire-PRWeb/ -- eCommerce services company geekspeak Commerce has entered into a new partnership with Michele Romanow's fintech company Clearbanc to offer a new funding model to online sellers. Companies making at least $10k in revenue per month and processing over 40% of transactions online can apply to receive non-dilutive capital from Clearbanc, which can then be used to engage in growth-driven pay-per-click advertising campaigns with geekspeak.

The partnership comes from a mutual interest in helping businesses thrive in the online marketplace.

"Our goal at geekspeak is to help our clients achieve success and growth in their online businesses, whether that's done through optimized product content or engaging advertising campaigns," said Isaac Wanzama, Founder & Chief Strategist at geekspeak. "Access to capital for critical marketing efforts is always a challenge for growing companies. There was a symbiotic fit between our agency and Clearbanc, who offers marketing capital to eCommerce sellers under much more favourable terms than traditional lenders."

Michele Romanow, Co-Founder & President of Clearbanc and Dragon on CBC's Dragon's Den said, "My experience has taught me that to grow an eCommerce business, digital ad spend matters more than anything else. eCommerce growth basically comes down to total sales minus the cost of goods and advertising. Based on that data alone, Clearbanc can automatically and confidently underwrite a new business venture. Digital ad spend gives us confidence that you have a sustainable growth business model."

To determine if they are qualified, and to receive capital from Clearbanc, eCommerce companies need to submit a short questionnaire with their business details and monthly revenue. If accepted, Clearbanc's algorithm will present multiple offers to the company based on existing business data (not credit history). Once an offer is accepted, the company quickly receives their capital in the form of a digital debit card, paying it back plus an agreed-upon flat fee. This makes marketing budgets more accessible and campaigns more successful.

About geekspeak Commerce:
Founded in 2003, geekspeak is an eCommerce services company focused on helping our clients sell more and develop a following of loyal buyers. geekspeak works closely with numerous online retailers, manufacturers, distributors and publishers, creating smart content that drives commerce.

About Clearbanc:
Clearbanc was founded with the mission of providing growth capital for online-enabled businesses, using actual business data instead of a personal credit score. We believe that selling equity to buy Facebook and Google ads is a bad deal for startups. That's why we've built an alternative for fast-growing businesses who generate consistent revenue from their marketing spend.

SOURCE geekspeak Commerce

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