Clerq

About Clerq

Clerq Inc. operates as a financial technology company developing a payments platform for businesses to accept digital bank payments. Founded in 2022 by Anuj Bhatt and Ben Markowitz, the New York-based firm positions itself as a low-cost alternative to traditional card payments, checks, and wires. The company secured $7.74 million in a Seed funding round on April 5, 2024, with participation from investors including FirstMark Capital, Fika Ventures, and Coalition Operators.

The core of Clerq's business is a platform that facilitates direct bank payments from customers to businesses, aiming to reduce transaction fees by up to 75% or more. The company guarantees every payment it processes, which shields its clients from fraud, funding issues, and chargeback risks. Its business model revolves around providing payment processing, account verification, fraud prevention, and reconciliation services. Clerq primarily targets businesses in sectors that handle large transactions, such as automotive dealerships, digital commerce, and travel platforms, helping them recover declined card payments and streamline collections for significant down payments, deposits, and all-cash sales.

The platform offers a white-label, configurable payment widget that integrates into a client's website or app, designed for a seamless user checkout experience. It also provides a dashboard for businesses to send invoices, track payments in real-time, and reconcile payouts. For technical implementation, Clerq offers an API and SDK for custom integrations and can connect with existing Dealer Management Systems (DMS) or commerce platforms. Security is a key focus, with the company being SOC 2 Type II compliant and using advanced encryption for data in transit and at rest.