Clara Raises US$70 Million to Expand Corporate Payments

Clara, a leading corporate expense management platform in Latin America, announced it has secured US$70 million (MX$1.2 billion) in structured debt financing. The capital, provided by BBVA Spark, Covalto, and the International Finance Corporation (IFC), will be used to expand Clara’s corporate credit card and bill-payment products as the company accelerates its operations in Mexico and Colombia.

This new funding complements Clara’s existing debt facility with Goldman Sachs, established in 2022. Combined with the US$80 million announced earlier this year, the latest financing strengthens Clara’s position for its next growth stage and broadens its network of capital-market partners.

Strategic Financing and Regional Focus

Funds from BBVA Spark, the unit dedicated to supporting the entrepreneurial and technology ecosystem, will help scale Clara’s payment products in Colombia. 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.

Financing from the IFC, a member of the World Bank Group, and Covalto, a Mexican bank focused on serving startups and SMEs across Latin America, will support Clara’s expansion in Mexico.

Sanaa Abouzaid, IFC Country Manager for Mexico, said the investment aligns with IFC’s strategy to catalyze technological solutions that spur job creation, financial inclusion, and productivity in the region. Mark McCoy, General Director, Banco Covalto, added that the credit underscores Covalto’s commitment to supporting fintechs and strengthening the structured-credit ecosystem in Mexico and Latin America, especially for venture capital-backed companies.

Gerry Giacomán Colyer, Clara’s co-founder and CEO, said the financing places the company in an “exceptionally solid position” as the only corporate payments platform in Latin America supported simultaneously by institutions of this scale. He expressed confidence that the capital will generate positive social impact and foster a “virtuous circle” for businesses across the region.

Clara has expanded its product suite beyond corporate cards and expense management to include a broader range of payment solutions. The new capital will be essential for sustaining growth and developing additional products for its more than 20,000 active client organizations, which include major regional companies such as Hilton, Bolsa Mexicana de Valores, Femsa, SmartFit, and Movistar.