Mexican fintech start-up Clara, which offers corporate spend management solutions for companies in Latin America, has landed a $150 million debt facility from Goldman Sachs.
The funds will enable the fintech to continue the rapid growth and adoption of its enterprise expense management platform, which includes corporate credit cards, payment solutions and short-term financing for businesses in Latin America. The company currently works with more than 5,000 companies in Mexico, Brazil and Colombia and aims to double this number by the end of the year.
Gerry Giacomán Colyer, Clara’s CEO and co-founder, says the financing will help “to double our presence in Mexico, while allocating resources to our regional expansion and new product development.”
Clara has also hired André Henrique Santoro as its new chief risk officer. Santoro has more than 15 years of risk management experience working at CitiBank and RappiBank Brazil.
In December 2021, Clara hit unicorn status after obtaining a Series B financing round of $70 million led by Coatue.
