Cledara, which claims to be the first software management platform aimed at growing companies, has completed a $20m Series A.
The investment was led by seasoned FinTech investor CommerzVentures. Other commitments came from Carbide Ventures, Massive, Nauta Capital and Notion Capital.
With the capital, the funds will help Cledara expand in the US.
The total volume of software purchased through Cledara has grown by 830% in the past 12 months. It claims this was fuelled by technology customers, including UK InsurTech unicorn Marshmallow, mapping technology startup, what3words and data streaming platform Conduktor.
The US is now Cledara’s second largest and fastest growing market, with 35% month-over-month growth, since its launch in March.
Founded in 2018, Cledara aims to help companies take control of their software subscriptions through a simple and intuitive manner. It combines a payment platform with management capabilities. The platform’s dashboard displays all of a company’s software, all in one place.
The company issues credit and bit cards exclusively via the Mastercard network.
Cledara founder and CEO Cristina Vila said, “Cledara is a result of my life-long desire to start a company that focussed on helping people.
“By helping growing companies discover, buy and manage the software they use to be successful, we empower them to focus their valuable time on what ultimately matters most – their people and customers.”
Speaking on the deal, CommerzVentures managing partner Paul Morgenthaler said, “[Cledara’s] Their product is perfectly timed, as recent market headwinds places greater attention on efficiencies, and their remarkable growth is testament to the value they deliver. We’re looking forward to seeing what the future holds for Cledara as they continue to establish themselves as a global SaaS player.”
CommerzVentures recently launched its third investment fund, which closed on €300m.
The investor is no stranger to FinTech, having recently joined the $100m investment of digital payments network MFS Africa.
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