Summary List Placement Canadian venture capital disruptor Clearbanc is headed to Europe, launching a £500 million ($645 million) fund for British e-commerce startups. Clearbanc was founded in 2015 by married cofounders Andrew D'Souza and former "Dragons' Den" dragon Michele Romanow. Clearbanc's model of revenue-based financing has increasingly become part of the funding picture for fast-growing startups, particularly those which need capital for repeat spend in areas like inventory, sales, or marketing. Clearbanc's founders believe e-commerce startups with high spend in these areas are not well served by venture capital funding, which typically dilutes founders by taking equity in return for cash.