Clara lands Series A extension to support Brazil growth

End-to-end spend management solution Clara has extended its recently closed Series A by an additional $5m.

The fresh equity was supplied by angel investors and unicorn leaders, including Creditas founder and CEO Sergio Furio, Rappi co-founder Sebastián Mejía, Bitso co-founder and CEO Daniel Vogel, Habi co-founder and CEO Brynne McNulty Rojas and Kushki founder Sebastián Castro, among many others.

This investment comes just a couple of months after Clara secured $30m in Series A funding, which was led by General Catalyst and DST Global.

Clara is currently in the process of expanding across Latin America and increasing its presence in Brazil, where it has witnessed 100-times growth since it launched in the country earlier this year.

Founded in 2020 by Gerry Giacomán and Diego García, Clara is an end-to-end spend management company. It supplies users with physical and virtual cards with no annual fees and offers customisable card limits and restrictions, immediate registration, local regulation and security standard adherence.

The company’s clients include Kavak, Casai, Sofía Salud and others.

Clara CEO and co-founder Gerry Giacomán said, “After a successful $30M Series A funding round, we are thrilled to announce this additional funding from some of the most outstanding founders and angel investors shaping the entrepreneurial and business landscape in Latin America.

“It’s exciting to be trusted by leaders who have built a reputation in the region, for which we reinforce our commitment with the LatAm companies to deliver the best B2B financial solution.”

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