Clearco is one of many financial technology companies facing sharp devaluations after their cost of capital shot up and economic uncertainty mounted last year
. It’s a stark environment for once high-flying startups, including many Clearco customers. Cheap capital is no longer freely available, interest rates have soared and companies have cut deeply to save cash. Conditions remain bleak andin the next year.
The collapse of SVB, a leading financier of startups, has put further pressure on cash-strapped startups by removing a source of financing. Canada’s big banks have raided its ranks for talent
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