Clearbanc – Indiegogo’s Crowdfunding Capital Partner
Thanks to our partnership earlier this year, Rainfactory clients have been securing capital and financing from Clearbanc for Indiegogo campaigns and Shopify eCommerce growth. Now things just got even easier thanks to a new partnership between Clearbanc and Indiegogo just announced October 30th.
Here’s a quick program overview:
A live campaign needs to have raised at least $40k from backers and be approved by Indiegogo for funding.
Clearbanc can then advance the campaign up to 25% of the raised funds. Campaign can take more funds as the campaign grows, again, up to 25% (see below).
The funds can be spent on marketing costs via our Clearbanc virtual debit card or our vendor pay (invoice processing tool).
The capital is inclusive of a flat 6% fee on the capital taken.
The capital is secured and returned to Clearbanc by Indiegogo, and the remaining campaign funds are paid out to the campaign minus the advance at the end of the campaign.
Meaning no pitching, credit checks, required bank balance, personal guarantees, or warrants.
For example, a campaign raises $100,000, Clearbanc can bring forward 25% and provide the campaign $25,000 (note: 6% fee is built-in) to spend on ads to continue to grow the campaign. During the campaign, we can top-up the advance to 25%. If you raise $400,000 by day 8, we can add another $75,000 (25% minus the first $25k) to help the campaign towards $1million.
Let Rainfactory help you grow. If you’re interested in securing financing from Clearbanc for your crowdfunding campaign, contact us today.