Mexican corporate spending management firm Clara has raised $80 million in a mix of equity and debt financing. The $40M equity portion included participation from Citi Ventures and Kaszek. The $40M debt-like facility was provided by General Catalyst.
Clara plans to use the funds to expand its sales teams across Brazil, Mexico, and Colombia, focusing on deeper penetration into mid-market and enterprise segments. Clara aims to break even by the end of the year.
“This allows us to confidently lean in and accelerate our investments, especially on the growth side, continue to sustain the investments in our products and continue on our path to global profitability, which we expect to attain over the coming months,” said co-founder and Chief Executive Officer Gerry Giacoman Colyer in an interview.
Founded in 2021, Clara serves about 20,000 companies and plans to grow its team to 400 employees by the end of the year.
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