Clara, the leading solution for Latin American companies to make and manage all their payments, was named to the 2024 Fintech Innovation 50, an annual list launched by GGV Capital U.S. in partnership with Crunchbase, to recognize the most promising fintech companies in the eyes of startup investors.
GGV Capital U.S. partnered with 44 investment firms to nominate and vote on 150 companies in order to select the 50 honorees. Having raised more than $12 billion collectively, the Fintech Innovation 50 demonstrates the enthusiasm of venture capital investors in the growth and innovation of this sector. In celebration, honorees will ring the Opening Bell at the Nasdaq MarketSite today.
"We’re thrilled to have made it onto the list alongside some of the most innovative fintechs worldwide, which have been transforming their sectors and markets. We are confident that this recognition will further motivate our team to keep delivering the best payments solution and partner with outstanding financial teams and companies across Latin America", said Gerry Giacomán Colyer, Clara CEO and co-founder.
With a platform that includes corporate credit cards, bill payments and cross border transactions, Clara serves over 12.000 clients in Brazil, Colombia and Mexico. The company has secured over $160M in equity financing and $250m USD in debt financing. It has grown quickly since launch, currently operating at a rate of 7 million payments per year equivalent to over $1.5 billion USD. Clara’s mission is to empower companies to operate with financial agility and clarity, increasing the competitiveness of Latin American businesses by building solutions tailored to their needs.
“We believe the long-term tides are in fintech's favor. Market shares are increasingly captured by disruptors and value-added enablers,” said Hans Tung, Managing Partner, GGV Capital U.S. “ Congratulations to the Fintech Innovation 50 honorees!"
About Clara
Clara is the leading solution in Latin America for companies to make and manage all their payments. Clara's platform includes corporate credit cards, bill payments, and international transactions. Launched in 2021, Clara has local operations in Brazil, Colombia, and Mexico. As a Latin American multinational, Clara has received investments from some of the region's most strategic venture capitalists, including Brazilian firms monashees and Canary, as well as global investors such as GGV, Coatue, DST Global Partners, ICONIQ Growth, General Catalyst, and Goldman Sachs, among others.
Clara's goal is to enable companies to operate with agility and clarity, helping them become more efficient and less bureaucratic through a solution that facilitates various payment methods integrated into its innovative expense management platform.
To learn more about Clara's products and solutions, visit clara.com.
About Fintech Innovation 50
The Fintech Innovation 50 includes the most promising fintech startups as nominated and voted on by 44 investment firms, in partnership with Crunchbase. This year, 150 companies were nominated, and 50 were selected through a voting process that required the nomination of portfolio and non-portfolio companies. Nomination criteria included companies with a primary product focus on fintech, the U.S. as a primary market, and Series A stage financing. For more information about participating investors and list methodology, visit www.fintechinnovation50.com.
About GGV Capital U.S.
GGV Capital U.S. is an American venture capital firm focused on early-to-growth investments in technology companies across North America, Israel, Europe, Latin America, and India. We are dedicated to fostering innovation and supporting the next generation of leaders in the tech industry, including Affirm, Airbnb, Bowery Farming, Drata, Handshake, HashiCorp, Ibotta, Quince, Slack, Slice, Square, StockX, Vercel, Zendesk, and more.
GGV Capital U.S. is a longtime investor in the global fintech sector, with more than 10 investments, including ADDI, Affirm (AFRM), Aven, Block (SQ), Clara, Divvy Homes, Frubana, IDwall, Northstar, Novo, and Stori. More information can be found at www.ggvc.com and @ggvcapital.