Mexican fintech Clara secured a $90 million debt facility to develop its footprint in South America.
“We’re thrilled to announce we’ve secured a brand new debt facility backed by Skandia Colombia and Accial Capital,” the corporate mentioned this week. “This financing is not going to solely allow us to strengthen our financing options in Colombia but additionally assist us consolidate the area as a technological hub, attracting and growing extra expertise.”
The fintech unicorn is trying to consolidate its latest enlargement within the South American nation and proceed rising in Brazil.
Clara has over 1,300 purchasers in Colombia, and roughly 2,000 in Brazil, its CEO, Gerry Giacomán, informed Reuters in an interview. The brand new cash will permit Clara to develop its footprint in Latin America’s largest economic system whereas making a second workplace department in Colombia.
Contemplating its home market, Mexico’s Clara experiences 9,000 purchasers in the entire area. The fintech markets company bank cards and expense administration merchandise. Within the interview, Giacomán mentioned Brazil was rising notably quick and that the market is certain to take the lead in Clara’s portfolio by the tip of subsequent 12 months.
Earlier funding from Goldman
The brand new debt facility is the second financing for the fintech in lower than a 12 months. The fintech had beforehand secured a $150 million debt facility from US funding financial institution Goldman Sachs.
Clara branched out to Colombia and Brazil a 12 months in the past with the funding.
Accial and Skandia be part of Clara’s lengthy listing of traders with the latest funding. These embrace Coatue, Kaszek, DST, International Companions, Basic Catalyst, Monashees, Canary, and A*.
Clara has no present publicity to Silicon Valley Financial institution
In a separate launch, the Mexican fintech reassured its prospects and traders that it had no deposits locked up in Silicon Valley Financial institution. Nonetheless, it acknowledged that Silicon Valley Financial institution was Clara’s “nice banking companion” up to now.
“At present, no Clara affiliate has deposits on the SVB,” the corporate mentioned. “In all of the international locations the place we function, we work with essentially the most dependable and stable monetary establishments available in the market, equivalent to JP Morgan or Goldman Sachs.”
Equally, the corporate acknowledged that a number of of its prospects could be affected. “We can be found to prospects who want our help,” the corporate mentioned.
