Clerq, a next-generation payments platform specializing in high-ticket transactions, has announced it secured $21 million in new capital. The funding includes a $12 million Series A round led by 645 Ventures, which will fuel the company's mission to revolutionize checkout experiences in industries historically underserved by card-first payment providers by replacing outdated methods like checks and wires with fast, account-to-account payments.
Quick Intel
Clerq raised a $21 million funding round, including a $12M Series A led by 645 Ventures.
The platform focuses on high-ticket verticals like automotive and home goods.
It replaces manual payment methods (checks, wires) with modern account-to-account transfers.
The company achieved 6x revenue growth in the 12 months preceding the funding.
The solution helps merchants avoid hefty card fees and reduces payment risk.
Funds will be used to expand product capabilities and enter new verticals.
Addressing a Multi-Trillion Dollar Gap
High-ticket verticals, representing a massive segment of the U.S. economy, have been largely left behind by the digitization of payments. These industries continue to rely on clunky, legacy payment methods that create friction for customers and expose merchants to risk. Clerq fills this gap by providing a modern solution that drives conversion without forcing customers to bear hefty card surcharges or requiring merchants to sacrifice their margins.
Proven Growth and Market Validation
Clerq has experienced intense market demand, achieving 6x revenue growth over the past year. The platform already processes hundreds of millions of dollars for Fortune 500 retailers, major online marketplaces, and other leading enterprises. This rapid adoption underscores the significant need for a payment solution purpose-built for large purchases. Josh Holm, Chief Financial Officer of Friedkin Automotive, stated, “Clerq has helped our dealerships provide a smooth, modern checkout experience for our customers, avoiding clunky payment methods like checks, without incurring expensive card fees. The company’s solution is unique in the market."
Strategic Investment for Future Expansion
The new capital will support Clerq's continued investment in expanding its product capabilities and addressing additional high-ticket verticals. The investment from 645 Ventures and strategic participants like Friedkin signals strong confidence in Clerq's approach and market potential. Nnamdi Okike, Co-Founder and Managing Partner of 645 Ventures, said, “Truett and Ben developed a deep understanding of the payment challenges of automotive dealerships and developed a product that has been a game-changer for both dealers and their end customers. We’re excited to partner with them as they scale this platform."
Clerq's successful funding round marks a significant step in modernizing payments for high-value transactions. By leveraging modern bank rails and a seamless user experience, the company is well-positioned to become a dominant force in driving the adoption of efficient, cost-effective account-to-account payments across a wide range of underserved industries.
Clerq is a financial technology startup based in New York City. The company’s next generation payments platform delivers a seamless checkout experience for high-ticket transactions. Leveraging modern bank rails, the platform offers the conversion and UX benefits of cards with risk and money movement infrastructure purpose-built for large purchases. Clerq replaces outdated manual payment methods like cash, checks and wires and expensive card surcharges with a smooth, integrated solution that helps merchants convert more customers without sacrificing margins. Learn more at clerq.io.
645 Ventures is an early-stage venture capital firm that partners with exceptional founders building iconic companies. The firm invests at the Seed and Series A stages and supports founders through its proprietary software platform Voyager and deep Connected Network. 645 Ventures manages over $550M in AUM across five funds.
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