Latin America Unicorn Clara Raises $80 Million for Sales Growth

Financial technology startup Clara, a corporate spending management firm, has raised an additional $80 million in funding from investors as it seeks to bolster its operations in Brazil, Mexico and Colombia with plans to become profitable by year-end.

The equity portion of the financing, which makes up $40 million of the total, included participation from Citi Ventures and Kaszek Ventures. The other $40 million of growth funding, a debt-like facility, came from long-time backer General Catalyst out of its Customer Value Fund.

“This allows us to confidently lean in and accelerate our investments especially on the growth side, continue ...