Clara is a leading spending management platform that helps companies streamline and control their financial operations. Its end-to-end solution includes locally issued corporate cards, Bill Pay, and flexible financing options. Clara’s integrated software platform enables businesses to manage expenses efficiently and gain real-time financial visibility.
Clara has raised an additional $80 million in funding. The equity portion of the financing, which makes up $40 million of the total, included participation from Citi Ventures and Kaszek Ventures. The other $40 million of growth funding, a debt-like facility, came from long-time backer General Catalyst out of its Customer Value Fund.
Clara, headquartered in Sao Paulo, Brazil, was founded in 2020 by Diego Iván Garcia Escobedo and Gerry Giacoman Colyer. In 2021, the company joined the unicorn club. Clara operates in key Latin American markets, including Mexico, Brazil, and Colombia. “This allows us to confidently lean in and accelerate our investments especially on the growth side, continue to sustain the investments in our products and continue on our path to global profitability, which we expect to attain over the coming months,” said co-founder and Chief Executive Officer Gerry Giacoman Colyer.