Mexican Fintech Clara Raises $70m in Series B Round

Fazzaco learned that Mexico City-based fintech start-up Clara has raised $70 million in a Series B funding round, which was led by Coatue with participation from ICONIQ Growth, Box Group and Gaingels as well as existing investors DST, monashees, General Catalyst, Avid Ventures, Global Founders Capital, Picus Capital and Alter Global, among others.

Along with the new financing, the company is also expanding into Brazil. Clara has formed a team of 40 staff in the country and says it starts its Brazilian operations "with a group of nearly 100 company customers using its products".

Clara operates under its principal member license with Mastercard, allowing it to issue credit cards directly. It claims nearly 2,000 customers, including Kavak, Jüsto, JOKR and Casai.

About Clara

Founded in 2020 by entrepreneurs Diego García and Gerry Giacomán Colyer, Clara is an end-to-end corporate spend management solution for companies in Latin America. The start-up provides corporate credit cards, a billpay product and an expense management system to help businesses maintain control over their finances.