Clearco is excited to announce an expansion of our receipt funding solution, now offering reimbursement for a broader range of eligible business expenses - including a new platform selection for “Other Vendors: that are outside of our approved vendor list.  We now include a wider range of approved vendor expenses for receipt reimbursement, benefiting companies looking to grow and expand through additional funding options. What this means for ecommerce businesses is that the working capital expenses that have been paid for by the brand already are eligible for swift reimbursement - enabling your business to scale rapidly. With Clearco’s Receipt Funding, eligible purchases made by ecommerce brands within the past 60 days are eligible for reimbursement, with up to $1,000,000 USD ($500,000 per receipt) in funding available for eligible merchants and purchases.

What is Clearco’s Receipt Funding?

Receipt funding is a type of working capital solution where ecommerce businesses can submit  receipts for any business expense, regardless of the vendor and get reimbursed.

Why use Clearco’s Receipt Funding for Marketing, Inventory, or Other Business Expenses

When it comes to growing your business, expansion and development expenses can add up! Ecommerce businesses looking to launch new product lines, invest in marketing, inventory, or other high-growth-contributing elements of their business, often find themselves constrained by limited capital and forced to slow down their growth. An example of this is with marketing investment, where ecommerce is estimated to spend between 15-20% of revenue, with some spending up to 30% to acquire customers. It is in these high investment scenarios that Clearco’s receipt funding comes into play. 

How to get your Receipts Funded with Clearco

After reviewing and approving your ecommerce business for funding, Clearco will provide your funding capacity. You can leverage this funding capacity to fund vendor receipts (subject to availability). Your business will see various terms for paying back the funding amount to Clearco. Our updated receipt funding solution behaves the same as Clearco’s Invoice Funding. We do not take personal guarantees, collateral, or dilution. Your payments are capped weekly payments and not based on revenue growth and/or decline. Receipt funding has major benefits:

1. Brands are promptly reimbursed for the products and services they have paid for, enhancing cash flow. 
2. Prioritize spending more effectively, especially during peak season.
3. Increase investment on inventory, advertising, and other channels during peak season.

Receipt funding empowers ecommerce brands aiming to scale by allowing them to plan and make investment decisions confidently, knowing they have a working capital partner that can fund invoices and receipts. With support from working capital partners, businesses can support their expenses, manage unexpected costs, and invest in new projects without waiting for lengthy approvals or delayed customer payments.

Introducing Expanded Funding for More Vendors

With Clearco’s expanded eligibility for receipt funding, we’re committing to support your business scale, without having to worry about the cashflow challenges, especially during the peak holiday shopping season. 

In the past, access to working capital for receipt funding was often limited to specific vendors, which restricted eligibility on type of expenses. The eligibility restrictions prevented companies from having essential funding to support strategic growth decisions in the same way Invoice Funding enables. Clearco now offers a lengthy list of approved vendors for eligible receipts, allowing for a much broader range of funding related to your business growth. Ecommerce brands are able to submit their paid receipts up to 60 days from payment for funds to be paid directly to your primary bank account, which follows our launch of expanded funding capacity for receipts earlier this year. With receipt funding businesses can fund (subject to eligibility):

• Inventory
• Marketing
• Logistics
• Shipping
• Affiliates
• Influencers
• Software
• Services

Expanding Receipt Funding to allow “Other Vendors”

On November 15 2024, Clearco launched our product feature to allow “Other Vendors” to be submitted for receipt funding. Allowing “Other Receipt Submissions” in-platform introduces an automated way for brands to upload a receipt from any vendor in order to submit it for funding. Brands can now submit receipts from any vendor, regardless of whether they're on the approved list or not. This has reduced manual efforts and improved efficiencies for brands aiming to use capital fast.

The Benefits of Expanded Receipt Funding to an  Industry-Focused Approach

Small businesses are a major driver in the global economy, making up 99.9% of all businesses in the United States and employing more than 61.7 million people. Although the mass majority of businesses are smaller in scale, it is still a challenge for these companies to access capital required for growth. In 2023’s Small Business Optimism Index by The National Federation of Independent Business (NFIB), 4% of businesses found that financing was their top business problem, and 24% said they are paying a higher rate on their most recent advance. For many brands, the ability to make swift, confident funding decisions is crucial for growth and has a direct impact on their long-term success and stability in a competitive market.

Clearco’s industry-specific receipt funding solution supports brands by expanding eligible vendor options, giving businesses greater flexibility in managing their cashflow. Clearco’s revised vendor list is vital for ecommerce companies, enabling them to access working capital options tailored to their business goals and reinvest in growth.

Our funding solution is designed to give you confidence by ensuring that you’re using only the capital you need. Taking the capital you truly need simplifies financial planning, making it easier and more predictable, while maintaining flexible terms.

How to Leverage Clearco’s Expanded Receipt Funding

For ecommerce brands without access to working capital, growth and cashflow challenges often limit investments and lead to missed opportunities for expansion. Empowering ecommerce growth has always been our mission - and expanding our receipt funding allows for just that. If you’re ready to leverage our accounts payable solution and see how the expanded approved vendors for receipt funding can scale your business, sign up for funding today.