Clara provides businesses with an end-to-end corporate spend management solution. Its platform offers a corporate credit card, billpay product, and an expense management system. The company was founded in 2020 and is based in Mexico City, Mexico.
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Clara's Products & Differentiators
3 tiers - premium for execs, business for employee spend, and virtual for fine-tuned online spend
Research containing Clara
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CB Insights Intelligence Analysts have mentioned Clara in 1 CB Insights research brief, most recently on Nov 17, 2022.
Expert Collections containing Clara
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Clara is included in 3 Expert Collections, including Fintech.
Unicorns- Billion Dollar Startups
Companies and startups in this collection enable consumers, businesses, and governments to pay each other - online and at the physical point-of-sale.
Latest Clara News
Aug 24, 2022
Clara, a corporate expense management solution for companies in Latin America, announced its entry into Colombia Fintech, the Association of Fintech Companies in Colombia , which brings together more than 250 companies that seek to boost the innovation ecosystem in digital financial services in the country. According to Leonardo Ramos, Clara’s country manager for Colombia, “we are sure that this is a strategic step that brings us closer to our goal of contributing to business financial inclusion, as well as to growth, financial health care, and improving the credit life and finances of organizations in Colombia.” Clara, which offers a comprehensive platform for expense control and business credit cards at no cost, with no commissions or management fees, has become one of the fastest growing Latin American unicorns in the region, reaching a valuation of more than $1 billion in less than a year through the consolidation of three investment rounds and through which it has raised more than $100 million. Read more about Clara and find other interesting business news with the Born2Invest mobile app. In March 2021, Clara was launched through a $3.5 million pre-seed round led by General Catalyst Subsequently, it raised a Series A investment round equivalent to $30 million, led by DST Global Partners, General Catalyst, monashees, Kaszek, among other international investment funds; and which was accompanied by an additional US$5 million in financing from angel investors and unicorn founders including Sebastián Mejía of Rappi, Ricardo Weder of Justo, Daniel Vogel of Bitso and Sergio Furio of Creditas. Finally, in December of the same year, Clara closed an investment round equivalent to $70 million, led by Coatue, a technology firm. The company, which already has more than 5,000 clients in Colombia, Mexico, and Brazil, is experiencing 100x monthly growth and has a team of more than 300 employees in the territories in which it operates. During its first year, Clara has achieved several milestones such as the “A Great Place to Work” certification in Mexico and Brazil, in addition to being part of the “Linkedin Top Startups 2021” ranking in Mexico. Clara expects to expand in Latin America taking its portfolio of solutions to more countries in the region such as Peru, Chile, Argentina, Panama, and Uruguay. As for its operation in Colombia, since March of this year, Clara offers a product with which organizations can have visibility of the budget of each department; control corporate finances in real time; in addition to setting limits and restrictions on spending for their employees. __ DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information. This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures . First published in VALORA ANALITIK , a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail. Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
Clara Frequently Asked Questions (FAQ)
When was Clara founded?
Clara was founded in 2020.
Where is Clara's headquarters?
Clara's headquarters is located at Amsterdam 121, Mexico City.
What is Clara's latest funding round?
Clara's latest funding round is Line of Credit.
How much did Clara raise?
Clara raised a total of $268.5M.
Who are the investors of Clara?
Investors of Clara include Goldman Sachs, General Catalyst, Monashees+, DST Global, Picus Capital and 12 more.
Who are Clara's competitors?
Competitors of Clara include Mendel and 4 more.
What products does Clara offer?
Clara's products include Credit cards and 2 more.
Compare Clara to Competitors
delt.ai is a financial technology company offering business credit cards, a digital financial assistant, and team expense management.
Tribal Credit is a business credit card specially designed to meet the needs of underserved startups in emerging markets. It is powered by blockchain technology.
Mendel provides corporate spend management solutions for enterprises in Latin America. It provides a platform, credit line, and corporate credit cards to help simplify corporate finances. The company was founded in 2020 and is based in Mexico City, Mexico.
Jeeves is a provider of an expense management platform for businesses, primarily startups. It offers a corporate card in local currency with no fees or interest. Per Jeeves says, it allows any firm to set up their financial function quickly using its Banking-as-a-Service infrastructure. This provides customers, per Jeeves, with access to 30 days of credit on a true corporate card (with 4% cashback), non-card payment rails, and cross-border payments. It also allows customers to pay in several currencies with the aim of cutting down on FX (foreign exchange) fees. The company was founded in 2019 and is based in Orlando, Florida.
Brex is a B2B financial product provider that offers a corporate credit card for technology companies.
Ramp offers credit cards targeted at small and medium-sized businesses (SMBs) with a focus on high-growth startups. The company aims to provide companies with higher card limits, saving opportunities, automated expense management, receipt matching, and accounting integration. The company was founded in 2019 and is based in New York, New York.
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