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Don't worry, we speak : Español (Spanish), too!

Mexican Unicorn Clara Secures Multi-million Dollar Debt Line From Goldman Sachs

The fintech company will use the financing to boost its Mexican operation and accelerate its expansion in the region.

Don't worry, we speak : Español (Spanish), too!

Clara, a credit card and spend management system for companies (and, since December, a “unicorn” startup), reported today the approval of a US$50 million line of credit from Goldman Sachs with the option to upsize to US$150 million.

The company, one of the fastest growing startups in Latin America (reaching unicorn status in less than a year and going from 100 to 6,000 customers in a matter of months), announced that they will use this financing for their ongoing regional expansion and to strengthen their products.

Gerry Giacompan Colyer, its CEO and co-founder, said in a press release: “This new credit line will allow us to more than double our coverage in Mexico, while focusing additional resources in our product and geographic expansion.”

Clara, which already operates in Mexico, Brazil, and Colombia, has been backed by investment funds such as Coatue, General Catalyst, DST Global Partners, Monashees, and Kaszek.

The company also used the occasion to make two announcements: the incorporation of André Henrique Santoro as Chief Risk Officer (former CitiBank and former RappiBank Brazil) and that Tina Reich, former Chief Credit Officer at American Express, has been working closely with Clara in an advisory capacity.

Main image: Diego García and Gerry Giacomán Colyer, founders of Clara. 

Cristóbal Fredes
Director de Contxto.

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