LatamList – Clara, a Mexican fintech, raised a $30M funding round from General Catalyst, DST Global and Monashees.
Clara provides corporate cards to Mexican companies. The startup provides an end-to-end spending platform to help companies manage their employee spending.
The round comes only months after the company raised a $3.5M pre-seed round alongside its product launch earlier this year. The company is currently seeing 2x week-on-week growth at times with revenue and transaction volume growing at a similar rate.
Co-founder and CEO Gerry Giacomán Colyer attributes the startup’s rapid growth and investment to the nature of the market in Mexico and Latin America. Fintech is a lucrative market and there are only a handful of startups currently working on corporate spending tools, which means there is plenty of space for growth and lots of investment interest.
The new funding will enable Clara to underwrite customers without having to take money from its own balance sheets. The startup also plans to make new hires and expand within the region.
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