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There are many alternatives to Clearco - make sure you review ALL your options.

We're whole of market, specialist eCommerce Brokers - we will find you the best eCommerce finance.

Have you been let down by Clearco as they withdraw from the UK?

To date, in 79% of cases we've worked on, Rangewell have been able to secure a better deal than your current Clearco to help support your growing business. 

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Clearco may have exited the UK market but there are many better alternatives

Clearco, one of the most well-known specialist eCommerce finance providers in the world, recently announced it was scaling back operations to focus on its United States and Canadian markets.

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For UK eCommerce businesses, Clearco leaving the market came as a shock and left lots of businesses uncertain of their futures. 

If you’ve been let down by Clearco or you’re looking for finance and wanted to work with them, don’t panic – our team can help you. Rangewell are independent financial experts who work across the whole of market, giving us access to UK-based lenders who specialise in eCommerce and can deliver a better deal than you would have received from Clearco. 

Clearco was a pioneer but their lending came with many downsides

We’re not bragging – we’re whole of market, independent finance experts that can stand outside of the lender’s market and choose the right options for our clients at no cost to you.

That means we’re not beholden to any specific ways of working or eligibility criteria. Clearco offered many benefits to UK lenders, but it also had disadvantages: 

  • Fast Payback Periods: Clearco only really offered short term loans - we work with many lenders that are much more flexible and can offer terms up to 60 months
  • Low loan amounts: Most of the alternative lenders we work with can offer higher Day 1 lending than Clearco
  • Strict eligibility criteria: Clearco only offered lending for incorporated ecommerce, Saas or subscription-based businesses in the UK/USA. Rangewell can help you find lending regardless of your background or experience. 
  • Auto-generated offers: Clearco provided quick quotes to ecommerce lenders that were generated using AI. We’re a team of real human beings who are more than happy to pick up the phone and talk through your business, background and issues. 
  • Fees & payments: As an established ecommerce lender, Clearco had a set system that demanded a flat 6-12% fees on the amount loaned, with payments taken as revenue-share. This often meant that businesses that experienced fluctuations in revenue during certain periods could find it challenging to keep up with payments. Rangewell will help you secure more customised lending that suits your needs and offers a repayment plan that works for your business model. 

Take control of your ecommerce finance

If you’re already a Clearco borrower and fail to take action, you’ll be transferred to Outfund, another ecommerce finance provider that has agreed to take on Clearco’s customers.

We love working with Outfund but being moved to a new lender with little say in their future, businesses have been left feeling confused and conflicted about lending. 

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Clearco was one of the first names in the ecommerce space and has supported both start-ups and established ecommerce retailers in growing their business, which makes their withdrawal from the UK especially frustrating for ambitious businesses that wanted to work with them. 

With Rangewell working on your behalf, you’ll be able to secure a superior finance deal independent of Clearco and its own partnerships, giving you more leverage to win better terms and rates. We’ll do all the work for you, negotiating on your behalf and even helping you maximise your business plan.

What types of lending should you use instead?

Clearco provided offers to UK businesses ranging from £10,000 to £20 million, with a revenue-based repayment plan and a 6-12% flat fee. The fee replaces any interest payments and will be taken as a flat number against your loan. 

Clearco’s criteria was strict for UK lenders, demanding at least six months of £10,000 per month in revenue history. This was prohibitive for smaller ecommerce businesses that needed finance to get started or to fund growth. 

Clearco’s exit from the UK market is nothing to worry about – their rigid repayment system may have actually been counterintuitive to many businesses that would instead benefit from other forms of finance. Specialist ecommerce lending is just one type of financial product, many others cheaper forms of finance exist and Rangewell specialise in working with eCommerce companies to help access this longer term and cheaper finance, including:

Cashflow finance

Having access to ready cash is essential to many businesses, especially in ecommerce where stock availability and customer refunds can cause random fluctuations and challenges. With Rangewell’s support, you can get a cashflow loan that helps bolster your capital. There are many ways to structure this sort of loan, with some offering a lump sum and others providing a ‘pot’ of cash to withdraw from when needed. Having our team on your side means gaining access to all of these options and having the best advice in place to make the right choice. 

Stock finance

Purchasing stock at the right time can be the difference between winning orders or losing customers. With stock finance you can purchase stock on credit and repay it over time, allowing you to capitalise on opportunities and repay the loan when it’s more convenient for your business. 

Asset finance

Many ecommerce retailers could benefit from the considerable benefits of better equipment or machinery. From new warehouse equipment to better sort your stock through to electronics and IT systems, asset finance allows you to fund purchases by leveraging the asset itself. Lenders that provide asset finance offer better deals to familiar customers, so working with Rangewell will help you win. 

Clearco versus competitors - we can find you a better deal

Clearco was a trailblazer in the ecommerce finance space. Still, there are many competitors on the market – some of which provide specific ecommerce financing whilst others are more mainstream lenders who will also support ecommerce ventures. 

Clearco was mainly competing with other specialist ecommerce lenders that provide a certain level of finance which comes with a flat fee and a repayment structure that works based on your sales activity. The differences between each are more difficult to gauge and will be mainly based on your specific needs and what offer each is willing to provide. 

Rejected by Clearco in the past?

If you’ve been refused by Clearco in the past, whether through failing to meet eligibility criteria or being turned down once you’ve applied, don’t worry. There are many lenders on the market who support ecommerce businesses just like yours. 

You can shop the whole market or concentrate on a few lenders to determine which is right for you. You may even be able to reapply to Clearco once you speak to an expert third-party like our team. 

At Rangewell, we aren’t affiliated with any single lender, so we’ll always work to achieve the best outcome for your business. Because of our impartial status, we can also get specific feedback from lenders about your business and then help you make decisions based on that. 

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