Mexican Clara Lands Series B $70 Million and Reaches Unicorn Status

With Series B Clara will expand to Brazil

 Clara, a Mexican corporate spend-management fintech, lands $70 million funding in a Series B round from Coatue – the investment manager which has also bet on names such as Bytedance (TikTok), Deel, Cloudwalk, and Bitso. 

The round was joined by Clara’s previous investors DST, monashees, General Catalyst, Avid Ventures, Global Founders Capital, Alter Global, among others.

The new round brings Clara’s valuation to $1 billion, making the fintech the newest Mexican unicorn – and, according to the company, the first Latin American startup to reach unicorn status in less than one year of operations.

After courting the Brazilian market for months, Clara finally debuts its operations in Brazil. The Fintech starts today (Dec, 6) its activities in Brazil. With one hundred customers already guaranteed, which include Mexican companies with operations in Brazil, the company bets on high adherence to fintechs in the Brazilian market to reach companies of all sizes.

Clara was founded in 2020 by Gerry Colyer and Diego García, who worked together at Grow Mobility, a bicycle and scooter rental company. According to Colyer, there is a great demand in Latin America for a platform that facilitates the organization of expenses in the corporate environment. In eight months of operation, Clara has about 1,000 corporate clients in Mexico — a third of them are high-growth technology companies such as Creditas, Kavak, Casai, and Valoreo. 

The Esquires

Gunderson Dettmer acted as legal counsel to Clara in this Series B round. 

The Gunderson deal team was led by partner Daniel M. Green and associates Bradley Krack, Daniel Gallo Mainero, Alex S. Kamath, Jamilah Mena and paralegal Megan Kallstrom.

Gunderson Dettmer is an international full service law firm headquartered in Silicon Valley with nine offices in the U.S. and abroad.

The firm is highly recognized for its M&A Venture Capital work in Latin America.

Beyond the Law.News was not informed of nor could it verify the name of the law firms representing or acting on behalf of the other parties.

KEYWORDS

Clara, lands series B, venture capital