- Clara announces that it has closed a $30m USD financing round from new investors, including partners of DST Global Partners and leading LatAm funds monashees and Kaszek Ventures, as well as Avid Ventures and existing investor General Catalyst.
- Additionally, the company is in the process of closing on a $50m USD debt facility.
- The company provides businesses in LatAm real-time control and visibility over their spending, including through easy-to-use corporate credit cards.
- After launching in March, the company has seen explosive growth, with many of Mexico’s best and fastest-growing businesses as early customers.
- The funding will go towards accelerating product development and expanding throughout the region, starting with an upcoming Brazil launch.
Mexico City, May 26, 2021- Clara today announced that it has closed a $30m USD Series A financing round from investors including partners of DST Global Partners, monashees, Kaszek Ventures and Avid Ventures with participation from existing investor General Catalyst.
"While the consumer finance space has gone through a revolution in the past few years, the B2B segment has been overlooked. Payments, corporate credit cards and expense management represent a massive opportunity globally. Clara has assembled a stellar team to tackle this billion-dollar opportunity in LatAm, solving a big headache for many companies in the region." said Marcelo Lima from monashees.
The company also shared that it’s in the process of closing on a $50m USD debt facility from an as-yet-undisclosed partner.
“The enthusiasm from top companies to use Clara has been phenomenal. Since launching in early March, we’ve grown over 100x in transacted volume,” said Gerry Giacomán Colyer, co-founder & CEO of Clara. “We’re proud to be the partner of choice for so many of Mexico’s most exciting businesses".
The growing trend towards digitization in the wake of COVID-19 has led companies to adapt their processes to remote and virtual environments, in order to streamline their activities and increase their growth potential. That is why implementing solutions that help streamline internal processes is key to ensuring their growth. Inspired by the current digital context, while focused on the work of the future, Clara offers unique benefits such as:
- Additional physical and virtual cards with no annual fee.
- Customizable card limits and restrictions
- Immediate, remote and digital registration with zero bureaucracy.
- Adherence to local regulations and the highest security standards.
- Clarity and transparency: spend visibility at all times for employees, managers, and admins.
- Cardholder companion mobile apps for iOS and Android.
“Above all, we want to create the technology and a first-class experience that will help high-potential companies grow,” said Diego García, co-founder of Clara. “Gerry and I worked together previously and experienced first-hand the problems we’re now solving with Clara. Before that, we spent years in San Francisco, and from our experience there we know the importance of taking care of the details – because the details add up to create an experience that we want to be magical. There is no need for the accounting and financial world to be complicated. Clara exists to make things simple and transparent; functional and without unnecessary steps."
The company is currently operational in Mexico, and plans to expand throughout Latin America. It has already begun hiring a team in Brazil, and is announcing the launch of its waitlist here.