Latin American Fintech Clara Announces $80 Million Financing

Gunderson Dettmer represented client Clara, a Latin American corporate spending management company, in certain aspects of its recently announced $80 million financing with participation from Citi Ventures, Kaszek Ventures and long-time investor General Catalyst. Clara helps about 20,000 companies control and automate costs, invoices, bills and cross-border payments. The company will use the new capital to bolster its operations in Brazil, Mexico and Colombia.

In the announcement of the transaction, Co-Founder and CEO Clara Gerry Giacoman Colyer said, "This allows us to confidently lean in and accelerate our investments especially on the growth side, continue to sustain the investments in our products and continue on our path to global  profitability, which we expect to attain over the coming months."

The Gunderson deal team was co-led by Dan Green and Brad Krack and included Brian Willbur and Felipe Hasenohr.

Companies
Clara
Citi Ventures
Kaszek Ventures
General Catalyst