La startup Clara announced that it received a round of Series B financing for $ 70 million, with which it reached a valuation of $ 1 billion and thus reached the classification of unicorn. In less than a year of operation, Clara achieved what four other Mexican startups (Poplar, Name, Clip and Konfío) took several years to achieve and also announced its arrival in the Brazilian market.
Clara is a Mexican startup dedicated to the management and administration of business credit cards. Just in March 2021, the company received a seed round for 3.5 million dollars, to later raise a series A for more than 30 million. Now, the technology investment firm Coatue has decided to invest in Clara this series B accompanied by A *, ICONIQ Growth, Box Group and Gaingels.
At the same time as this investment, the company announced the official start of its operations in Brazil, where it already has a team of 40 people, including the country manager in that market, Layon Costa, and a portfolio that reaches 100 clients, among which are the regional operations of other Mexican startups that have also arrived in the South American country, such as Poplar.
“We were not looking for a new round of financing, but we maintain good contact with several investors and a lot of enthusiasm was generated when seeing the infrastructure and the solidity of what we are doing,” he said. Gerry Giacomán, director and founder of Clara.
According to the manager, Clara It no longer only provides its financial management and administration services to startups such as Poplar, Jüsto, Jokr and CasaiBut now large corporations, such as an airline and a bank in Mexico, are already using their product.
Giacoman acknowledged that the Brazilian market is larger than the Mexican one and that the penetration of digital payments in that country is also much higher, although he warned that Clara’s business opportunity in this country is similar to the one she has had in Mexico. Well, there are many companies that require cost management solutions.
Many of our clients come from companies that started working with us in Mexico, from companies like Casai and Jüsto ”, he said.
He added that although other countries in the region, such as Colombia, Argentina and Chile, are in the company’s sights for 2022, especially after the $ 70 million investment round, they decided to start with the two largest markets in the region: Mexico and Brazil.
In less than a year, Clara has managed to achieve a status that other unicorns, such as Kavak, Clip, Name and Confidence, it took them more than four years to achieve. According to Giacoman, Clara has benefited from the success stories of her predecessors, just as they plan to continue working to strengthen the Mexican entrepreneurship ecosystem.
Reference-www.eleconomista.com.mx