Clara announces $80m in equity and growth financing
The corporate spending platform will expand sales and marketing across Brazil, Mexico and Colombia.
Clara has announced $80 million in previously undisclosed equity and growth financing at Web Summit Rio. The equity extends earlier financing, while General Catalyst's Customer Value Fund (CVF) provides growth funding. Clara did not disclose the allocation between the two components.
Equity participants include Acrew Capital, Alter Global, Citi Ventures, Citius, Coatue, Commerce Ventures, DST Global, Endeavor Catalyst, Evolution Ventures, Gaingels, Kaszek, Monashees, Moore Strategic Ventures, Notable Capital and Picus Capital.
Clara plans to expand sales and marketing in Brazil, Mexico and Colombia, focusing on mid-market and enterprise customers. Its platform combines corporate cards, payments and expense controls for finance teams.
Use of funds
Sales team expansion
Marketing in Brazil, Mexico and Colombia