Clara Appoints New Mexico President After Securing Debt Financing

Clara, a Latin American corporate expense management and payment solutions provider, has appointed Jorge de Lara as its new President for Mexico. The appointment follows a significant expansion period for the company, which recently secured over US$150 million (MX$2.6 billion)  in combined debt and equity financing.

Jorge de Lara previously held leadership roles at American Express, where he managed Global Commercial Services for Mexico and Latin America. His background also includes leading commercial and product strategies at Aeroméxico and serving as general manager of the mobility division at Edenred in Mexico. 

Gerry Giacoman, CEO and Co-Founder, Clara, stated that de Lara’s experience in corporate payments and his relationships with large enterprises are essential for the company's growth strategy. “With his support, we are ready to accelerate our growth and set new standards that combine technological robustness and agility,” he said. 

As President for Mexico, de Lara will oversee growth and acquisition strategies in the market where the firm originated. His responsibilities include strengthening strategic alliances with current and prospective clients. "Clara's ambition is undeniable," de Lara said. "I am committed to ensuring Clara continues to be the engine of growth and financial control for companies in Mexico."

Clara serves several high-profile clients in Mexico and Colombia, including the Mexican Stock Exchange (BMV), Smart Fit, Holcim, OCESA, Viva Aerobus, and Miniso. The company, launched in 2021, currently provides digital financial management tools to more than 30,000 enterprises across Latin America, with a specific focus on middle-market and large corporations.

Beyond corporate cards, Clara operates as an integrated platform utilizing artificial intelligence. This technology provides businesses with visibility and financial control by automating expense management processes. The company intends to use its recent capital infusion and reinforced executive team to redefine financial efficiency for the Latin American business ecosystem.

Strategic Financing and Regional Focus

Clara also announced late last year that it had secured US$70 million in structured debt financing, backed by BBVA Spark, Covalto, and the International Finance Corporation (IFC), as previously reported by MBN. The capital is earmarked for the expansion of the company’s bill-payment and corporate credit card services as it scales operations in the Mexican and Colombian markets. 

This latest infusion builds upon an existing credit facility with Goldman Sachs and follows an US$80 million funding round.  Eduardo González, Country Manager, BBVA Spark in Colombia and Argentina, said the financing marks a significant milestone in the partnership and will help empower Colombian companies by modernizing corporate expense management.