Mexico-based Digital Bank Klar Announces Equity Financing Led by General Atlantic
Gunderson Dettmer represented Mexico-based client Klar, a digital banking platform, announced the closing of an equity fund led by General Atlantic to build new products that will complement its current financial and investment offerings. The company offers its users an alternative to traditional credit and debit services including cash back on purchases and buy now, pay later options.
In the announcement of the transaction, Co-founder and CEO of Klar Stefan Möller said “One of the figures that we consider the most relevant with regard to our traction is that 40% of our users are getting access to financial products they historically didn’t have access to, for the first time – through Klar. So not only is it a big market that we can compete for market share in, but it’s a market that keeps expanding as we’re able to serve different segments better than the legacy banks.”
The Gunderson deal team was led by co-led by Bradley Krack and Daniel Green and included Lily Kim, André Lee and Eduardo Espinosa de los Monteros Pereda.