Clara has secured a $70 million structured debt facility to accelerate the growth of its corporate payments platform in Mexico and Colombia. The Latin American spend management company closed the financing with BBVA Spark, Covalto, and the International Finance Corporation, adding to an existing debt relationship with Goldman Sachs that has been in place since 2022. The new capital is intended to support the rapid expansion of Clara’s corporate card and accounts payable products while reinforcing its position in key regional markets.
New debt facility to accelerate payments growth
The facility will be directed primarily toward funding Clara’s credit card portfolio and invoice payment solutions as demand from mid-sized and large enterprises continues to grow. Management describes the transaction as a structured debt financing, designed to match the company’s scaling needs and the risk profile of its underlying receivables. By complementing the Goldman Sachs line announced earlier, Clara increases its capacity to finance customer growth without diluting shareholders, while securing long-term partners in both local and global capital markets.
Strategic partners backing Clara’s expansion
BBVA Spark, the unit of BBVA that focuses on technology companies and venture-backed businesses, is providing capital that will be channeled mainly to Colombia. Its local leadership highlighted that the agreement deepens an existing alliance and supports Clara’s efforts to modernize corporate expense management for Colombian companies. IFC and Covalto, both active in supporting high-impact and innovation-driven firms, are concentrating their financing on Mexico, with IFC aligning the investment with its mandate to promote job creation, financial inclusion, and productivity in emerging markets.
Strengthening presence in Mexico and Colombia
In Colombia, the fresh funding will allow Clara to scale distribution of its payment products, enhance underwriting capacity, and invest in technology that supports automated, always-on expense management. In Mexico, the participation of IFC and Covalto is expected to reinforce the company’s growth among startups and small and medium-sized businesses, which remain underserved by traditional banks. Covalto has framed the credit as part of its broader strategy to back fintechs and deepen the structured credit ecosystem in Mexico and Latin America, following the pace and specific needs of venture-backed companies.
Financial profile and growth trajectory
The $70 million facility follows $80 million in financing that Clara announced earlier this year, signaling a deliberate shift into a new phase of scale with a more diversified set of lenders. Founder and chief executive Gerry Giacomán Colyer has stated that Clara is EBIT positive and close to achieving cash flow breakeven, which he argues validates the company’s operating discipline and technology-driven model. He also emphasized that Clara is now the only corporate payments solution in Latin America simultaneously backed by institutions of the caliber of Goldman Sachs, BBVA Spark, IFC, and Covalto, which he views as a strong vote of confidence in its long-term strategy.
Product platform and corporate client base
Over the past few years, Clara has expanded from a corporate card and expense management tool into a broader payments platform. Its offering now includes corporate credit cards, invoice and bill payment, service payments, international payments, and proprietary real-time expense management software, all integrated into a single interface that gives finance teams granular control and visibility. The company reports serving more than 20,000 active organizations across the region, including large names such as Hilton, Bolsa Mexicana de Valores, Femsa, Smartfit and Movistar, which use the platform to centralize financial operations and reduce bureaucracy.
Profiles of Clara and its financial partners
Founded in 2021 as a Latin American company, Clara has attracted equity backing from regional venture capital firms such as Monashees, Kaszek Ventures, and Canary, along with global investors including Notable Capital, Coatue, DST Global, ICONIQ Growth, General Catalyst, and Goldman Sachs. BBVA Spark, which already operates across five regions, serves more than 1,700 technology companies and venture funds and has arranged close to 750 million euros in banking finance, from working capital products to long-term investment solutions. Covalto, a digital banking and financial services platform focused on Mexican SMEs and supported by investors like QED, Kaszek, Goldman Sachs, Point72 Ventures, Ignia, Rithm Capital and Victory Park Capital, joins IFC, the World Bank Group institution that committed a record $,71.7 billion to private companies and financial institutions in developing countries in fiscal year 2025.
With this latest round of debt financing, Clara strengthens both its balance sheet and its network of strategic financial partners in Latin America. The additional firepower is intended to sustain product innovation, support a growing base of tens of thousands of corporate clients, and deepen its reach in the Mexican and Colombian markets it knows best. If the company maintains its current trajectory and executes on its expansion plans, it will be better positioned to entrench itself as a leading corporate payments and spend management platform across the region.