Mexican FinTech unicorn Clara has reportedly raised $90m in debt funding from US tech investor Accial Capital.
The capital will help Clara bolster its footprint in Brazil, with plans to double its customer base, according to a report from Reuters. Clara also hopes to expand its footprint in Colombia.
Its ambition for the Brazilian market is to increase its customer base from 2,000 companies to 5,000. It also hopes to quadruple the $114.9m it processed on corporate credit cards.
As for the Colombian market, Clara hopes to establish a second office.
This debt round brings Clara’s valuation to $1bn.
Founded in 2020, Clara claims to be Latin America’s end-to-end business spend management company. Its features include locally-issued corporate cards, bill pay, financing solutions and more.
The company also offers an expense management system and a SPEI payment and transfer program.
Clara previously secured up to $150m from Goldman Sachs in August 2022. The capital included $50m of credit, with the option of increasing to $150m.
According to the report from Reuters, these debt financing rounds allow Clara to separate money used for liquidity solutions for customers and the equity used to invest in the team and product.
Other investors in Clara include Coatue, DST Global Partners, General Catalyst, monashees, Kaszek, SV Angel, Picus Capital and others.
Another Mexican FinTech company to recently raise capital was Minu. The employee wellness service raised $30m to support the development of gamified features. Minu offers businesses with a platform to manage all their employee benefits, with features including personal finance courses, donations to social causes and more.
As for the Mexican FinTech sector as a whole, it suffered a 69% drop in 2022 in total funding compared to 2021.
Keep up with all the latest FinTech news here.
Copyright © 2023 FinTech Global
