Latin American technology startup Clara, which offerings corporate expense management solutions, has secured up to $150m from Goldman Sachs.
Founded in 2020, Clara said it is shaping the future of how companies manage their finances, while helping their customers to be more successful. Clara’s products include business credit cards, an expense management system, as well as a SPEI payment and transfer platform; are already being used by some of the fastest growing startups and companies in the region.
Clara currently works with more than 6,000 companies in Mexico, Brazil and Colombia and intends to double this number by the end of the year.
The financing involves an initial line of credit of $50m with the option of increasing to $150m.
Clara said this milestone is a sign of the confidence that international markets have in the potential of technology startups and in the future of this sector in Latin America, even during a challenging time.
In addition, Clara has announced the incorporation of André Henrique Santoro, as Chief Risk Officer. Santoro has more than 15 years of experience in risk management, including his time at CitiBank and RappiBank Brazil.
Gerry Giacomán Colyer, Clara’s CEO and co-founder, said, “This financing will boost our expected regional growth and will also allow us to make our expense management platform available to more companies in the region, as well as our innovative short-term liquidity solutions.
“This new line of credit will allow us to double our presence in Mexico, while allocating resources to our regional expansion and development of new products.”
Xepelin, a payment platform and business financial services for small to medium sized enterprises (SMEs) in Latin America, recently raised $111m in Series B funding.
Since its inception, Xepelin has had significant traction in Latin America. The company currently maintains operations in Mexico and Chile and has more than 450 employees spread throughout Latin America, who boost the company’s impact with their talent.
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