TORONTO, Nov. 9, 2021 /PRNewswire-PRWeb/ -- Clearco, the world's largest e-commerce investor and the company revolutionizing the way founders grow their businesses, today announced that its ClearAngel program is funding Swap Society, an online membership-based clothing swap for women and kids. The ClearAngel program provides early-stage founders with access to revenue share capital, data-driven advice, and Clearco's extensive network of apps, agencies, and investors.
The fashion industry and clothing waste are some of the largest pollution sources in the world ?? the average American is known to throw away nearly 70 to 80 pounds of clothes annually. After learning these facts, Nicole Robertson turned her passion for fashion into a first-of-its-kind resale business model in the sustainable fashion space and launched Swap Society in 2017. The company is an online clothing swap that provides customers with easy, affordable, and sustainable solutions to embrace new styles and mix up their wardrobes. It's also the only online clothing swap that gives customers equal value for their clothes. Swap Society uses a proprietary algorithm to assign a fair SwapCointm value to each garment received. Instead of markups, everything ordered from the site costs SwapCointm plus a per-item fee of $4.99.
Unlike other clothing resale brands, Swap Society accepts all brands in all conditions and believes that wearable clothing should be kept in circulation for as long as possible.
"The fashion industry has a massive impact on the world. We have a role not only as consumers but as responsible investors to effect positive change in this space," said Andrew D'Souza, CEO and co-founder, Clearco. "We're proud to fund Swap Society in its mission to make sustainable fashion more accessible. The investment also reflects ClearAngel's commitment to democratizing capital for women-owned brands."
ClearAngel is one of a few equity-free, flexible capital options for early-stage founders who do not have the network to raise an angel round or join exclusive accelerators. The program has already funded over 350 companies since its February 2021 launch.
"Fashion is fun, but it's also damaging in so many ways," said Nicole Robertson, founder and CEO, Swap Society. "I'm delighted that ClearAngel understands our values and sees the business potential in Swap Society. With their support, we can continue to grow and find new channels to reach prospective customers."
Supplementary to the flexible capital, Swap Society will also get access to a network of more than 500 investors, growth teams, agencies, apps, lawyers, and buyers; and data-driven advice designed to help scale and hit new revenue milestones.
To learn more about Swap Society and explore the fun of swapping clothes, visit swapsociety.co.
ClearAngel is currently onboarding e-commerce and product companies, and has limited spots available for SaaS, Apps, marketplace and stealth companies. To learn more about applying, visit angel.clearbanc.com.
Co-founded as Clearbanc in 2015 by Michele Romanow from Canada's Shark Tank (Dragons' Den), Andrew D'Souza, Ivan Gritsiniak, Charlie Feng, and Tanay Delima, Clearco offers the most founder-friendly capital solutions for e-commerce, mobile apps, and SaaS founders as well as a full suite of products and access to a powerful global network, insights and data, and recommendations. Clearco has invested over $2 Billion in over 4,500 companies to date, including Leesa Sleep, fashion-rental service Le Tote, home goods company Public Goods, shirtmaker UNTUCKit, online speech therapy practice Expressable, and digital real estate marketplace SetSchedule. For more information visit clear.co and @getClearco.
Krista Tietjen, Clearco, 610-213-2824, email@example.com
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