Sydney, 7 March, 2022 - Female founders still face challenges in getting equal access to opportunities and funding for their businesses. But successful entrepreneur Michele Romanow, co-founder and CEO of Clearco, says the battle is worth it.
Clearco, the world’s largest e-commerce investor, has invested $3.2 billion in over 7,000 ecommerce and SaaS companies. It launched in Australia in October 2021 where it has already invested in over 350 e-commerce companies including PhychoHealth , McIntyre Merino, iPantry, Jolyn, The Beard Market, Vegan Grocery Store and Bhumi. Clearco uses AI to inform investment decisions which removes the inherent bias many female founders face.
"I am very proud of the impact Clearco has had on the e-commerce community and our support of women leaders - we have literally changed the face of investment. Today we fund 25 times more female-owned businesses than traditional VCs do, and a staggering 50% of our current global portfolio is made up of businesses led by women," Michele says.
To encourage other women to #BreakTheBias on International Women’s Day 2022, Michele has three tips based on her own experience as a leader.
1. Start now and take action
Don’t get trapped in a cycle of waiting for the perfect time to start a business – that time doesn’t exist. You need to jump in and get the ball rolling. Worrying doesn’t solve a problem - the only thing that solves a problem is an action. Being a woman in business means you’ll have to face rejection and all you can do is get back on the horse.
2. Be genuine and responsible
Great leaders are genuine, authentic and deeply responsible. That sounds very easy when you say it out loud. But it’s so hard in reality. Everyone has a plan until they are punched in the face. It’s pretty easy to see blame get spread and not take responsibility, but you need to sit back and ask yourself: "What was the role that I played in this disaster? How do we all collectively own this so it becomes an organisational learning and not something we continuously repeat?"
3. Find a strong mentor
A single mentor relationship can change your whole life. One of my great mentors and a woman who has inspired me is Ruma Bose, Clearco’s Chief Growth Officer. When you think about building a great mentor relationship, also think about the things that you can do that add to their life. All great relationships are based on mutual benefit.
ENDS
About Michele Romanow
Michele Romanow is the co-founder and CEO of Canadian unicorn, Clearco - the world's largest e-commerce investor. The company has invested $3.2 billion in over 7000 ecommerce and SaaS companies. It launched in Australia in October 2021 and has already invested in over 350 Australian ecommerce companies. Michele is a serial entrepreneur having started six companies before her 35th birthday. In addition to her work as an entrepreneur, Michele is a “Dragon” on the Canadian hit TV show Dragons’ Den (Canada’s Shark Tank).
Follow Michele on LinkedIn or Twitter
About Clearco
Co-founded as Clearbanc in 2015, 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 financed over 5500 companies to date, including Australian companies PhycoHealth, McIntyre Merino, iPantry, Jolyn, The Beard Market, Vegan Grocery Store and Bhumi.
For more information visit clear.co and @getClearco