Spokesperson Nick Rosen-Wachs says the staff impacted were located in the U.K., Ireland, Australia and Germany.
The terms of the partnership between the companies that provide founders with non-dilutive capital were not publicized, but Clearco says the agreement does not include any of its staff, technology, intellectual property, infrastructure or operations. On July 29, Clearco announced it was laying off 125 employees of its 500-person workforce, saying it had grown its head count too quickly in anticipation of continued economic growth.
"We are confident that this is the best decision for our customers who will continue to benefit from Outfund’s revenue-based financing model without ever having to give up equity in their businesses," Romanow said in a statement Tuesday.
E-business loans...down the drain
Any Internet company not making a profit will go to zero...massive layoffs coming as rates rise
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