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Ecommerce
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December 19, 2024
Clearco Supports Ettitude in Preparing for Seasonal Growth and Expanding into B2B Markets
Clearco funds Bloomist
You provide the invoices. Clearco provides the funding.
The Business Problem
Mike Zung, CEO and Co-Founder of Bloomist, faced a significant cash flow challenge while managing his ecommerce business. He had just completed a production run of beautifully crafted ikebana vases and brass frogs in India, which had generated strong demand from both retailers and consumers. However, the artisan required full prepayment and did not accept credit cards, leaving Mike in a difficult position. Tying up cash for weeks or months while waiting for the products to ship and sell would have severely impacted Bloomist's ability to operate smoothly.
The Funding Solution
Recognizing the urgency of the situation, Mike reached out to Clearco, knowing they could provide the support needed. Within 48 hours, Clearco set up Bloomist’s account and secured the necessary non-dilutive funding. This quick access to capital allowed Bloomist to pay the artisan without disrupting cash flow, ensuring that the highly anticipated products could be brought to market on schedule.
Clearco Enables Bloomist to Expand Without Sacrificing Cash Flow
Bloomist, known for its curated selection of artisan-crafted home decor, relies heavily on unique, handcrafted items that resonate with their brand’s ethos. When faced with the need to prepay for these high-demand items, Mike turned to Clearco, a partner he knew would understand the intricacies of his business model.
Thanks to Clearco’s quick action, Bloomist was able to bring their exclusive ikebana vases and brass frogs to market, fulfilling customer demand and driving continued growth. The partnership allowed Bloomist to avoid the pitfalls of traditional financing, which often involves long approval processes and restrictive terms.
Clearco's Role in Bloomist's Continued Success
Clearco’s non-dilutive funding model has proven to be an invaluable asset for Bloomist, allowing them to maintain flexibility and control over their business operations. With the funding secured, Bloomist could focus on what they do best—curating and delivering beautiful products to their customers—without the stress of cash flow constraints.
“I highly recommend Clearco to any ecommerce business facing similar challenges,” adds Mike. “Their approach to funding is a game-changer.”
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“Clearco’s non-dilutive funding was exactly what we needed—no liens, no collateral, no personal guarantees. Just the support we needed, exactly when we needed it. Their speed and understanding made all the difference.”
Mike Zung, CEO and Co-Founder of Bloomist
