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Revolutionary Scrunchie Brand Hairstrong Receives $10,000 Through ClearAngel

·3 min read

Clearco's Data-Driven Angel Investor will fuel international growth for world's first adjustable scrunchie

TORONTO, July 6, 2021 /PRNewswire-PRWeb/ -- Clearco, the world's largest e-commerce investor and the company revolutionizing the way founders grow their businesses, today announced that its ClearAngel program is funding Hairstrong, creator of the world's first adjustable hair scrunchies that keep hair up and healthy during physical activity. ClearAngel gives early-stage founders access to revenue share capital, data-driven advice, and Clearco's extensive network of apps, agencies, and investors.

Nicole Baranowski founded Hairstrong in 2019 as a then-student athlete, inspired by her entrepreneurship class assignment at Western University. Nicole saw a market gap based on her own personal experience and her desire to be a competitive athlete, while having long hair. Hairstrong's adjustable design stays secure even during activity, reducing the frustration of scrunchies that fall out or damage hair. ClearAngel's funding will enable Hairstrong to expand its business with international wholesale orders, lower prices, new products, and scaled-up manufacturing within Canada.

ClearAngel is a new, equity-free, flexible capital option for early-stage founders who don't have the network to raise an angel round or join exclusive accelerators. The program has already funded over 250 companies since its February 2021 launch.

"We're thrilled to fund Hairstrong in its mission to confront a common issue facing high-impact women — hair products, not hair," said Andrew D'Souza, CEO and co-founder, Clearco. "This latest ClearAngel grant reflects how we're driven by helping young women entrepreneurs like Nicole who are solving life's problems, empowering others, and need access to capital to do so."

As part of the ClearAngel program, Hairstrong will also get access to a network of more than 500 investors, growth teams, agencies, apps, lawyers, and buyers; and data-driven advice designed to help scale and hit new revenue milestones. Hairstrong is aiming to double their organic growth channels and improve cost through scaling with the help of ClearAngel.

"It's amazing to see how a brand that started as my college project has grown into a veritable company, and this funding from ClearAngel is our latest achievement," said Hairstrong founder Nicole Baranowski. "It enables Hairstrong to provide even more women with innovative products that inspire them to take control of their lives and fitness."

To learn more about Hairstrong and experience the durable scrunchies for yourself, visit https://hairstrong.ca/.

ClearAngel is currently onboarding E-commerce and product companies, and has limited spots available for SaaS, Apps, marketplace and stealth companies. To learn more about applying, visit https://angel.clearbanc.com.

About Clearco:
Co-founded as Clearbanc in 2015 by Michele Romanow from Canada's Shark Tank (Dragons' Den), Andrew D'Souza, Ivan Gritsiniak, Charlie Feng, and Tanay Delima, 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 invested over $2 Billion in over 4,500 companies to date, including Leesa Sleep, fashion-rental service Le Tote, home goods company Public Goods, shirtmaker UNTUCKit, online speech therapy practice Expressable, and digital real estate marketplace SetSchedule. For more information visit clear.co and @getClearco.

Media Contact

PHILIP PRICE FRY, Clearco, 917-684-4174, philip.pf@clear.co

SOURCE Clearco