Clara, a leading Latin American fintech specializing in corporate expense management, has announced the appointment of Jorge de Lara as its new President for Mexico. This strategic move follows a period of significant financial momentum, where the company secured over US$150 million in funding to fuel its expansion. De Lara's appointment is poised to leverage this capital and his extensive industry experience to solidify Clara's market leadership.
A Strategic Leadership Appointment
In his new capacity, Jorge de Lara will spearhead growth and acquisition strategies within Mexico, the company's market of origin. His primary responsibilities include fortifying strategic alliances with both existing and potential corporate clients to drive market penetration. Gerry Giacoman, Clara's CEO and Co-Founder, emphasized that de Lara’s deep experience in corporate payments is essential for accelerating the company's ambitious growth plans.
De Lara brings over two decades of relevant leadership experience to Clara, making him a pivotal addition to the executive team. He previously managed Global Commercial Services for Mexico and Latin America at American Express and led commercial strategies at Aeroméxico. His background is further complemented by his tenure as general manager of the mobility division at Edenred, providing a comprehensive understanding of the corporate payments ecosystem.
Fueling Expansion with Strategic Capital
The leadership change occurs as Clara capitalizes on substantial financial backing secured over the past year. The company successfully raised more than US$150 million through a combination of debt and equity financing from various strategic operations. This infusion of capital is viewed as a strong vote of confidence from investors in Clara's business model and its vision for the region.
A significant portion of this funding includes a structured debt facility from prominent financial institutions such as BBVA Spark, Covalto, and the International Finance Corporation (IFC). This capital is specifically earmarked for expanding the company’s bill-payment and corporate credit card services across its key markets. The financing builds upon an existing credit line with Goldman Sachs, reinforcing Clara’s robust financial foundation for future scaling efforts.
Redefining Corporate Financial Management
Since its launch in 2021, Clara has rapidly established itself as more than just a provider of corporate cards. The company operates an integrated, AI-powered platform that offers businesses comprehensive visibility and control over their finances by automating expense management. This innovative approach has attracted over 30,000 enterprises across Latin America, demonstrating a clear market need for its sophisticated digital tools.
Clara's impressive client roster includes major industry players in Mexico and Colombia, such as the Mexican Stock Exchange (BMV), Holcim, Viva Aerobus, and Miniso. This diverse portfolio underscores the platform's adaptability and its appeal to both middle-market and large corporations seeking greater efficiency. By serving these high-profile organizations, Clara continues to solidify its reputation as a trusted partner in digital financial transformation.
The appointment of Jorge de Lara marks a significant milestone for Clara, strategically aligning seasoned leadership with a strong capital position. This combination is set to accelerate the company's mission to redefine financial efficiency for businesses throughout Latin America. With a clear vision and a reinforced executive team, Clara is well-equipped to set new standards in the corporate payments and expense management industry.