Mexico City & Bogotá, November 2025 – Clara, Latin America’s leading corporate spend management platform, announces USD 70 million in structured debt funding from BBVA Spark, Covalto, and the International Finance Corporation (IFC). The capital will fund Clara’s fast-growing corporate credit card and bill pay products as the company accelerates expansion of its operations in Mexico and Colombia. This funding complements Clara’s existing debt relationship with Goldman Sachs, with whom the company continues growing a relationship since 2022.
The facility from BBVA Spark, the bank’s business unit specializing in supporting the entrepreneurial and tech ecosystem, will be used to scale Clara’s payments products in Colombia. “This financing marks a significant milestone in our partnership with Clara, empowering their continued growth and innovation. We are proud to support a company that is empowering Colombian companies by transforming corporate spend management,” says Eduardo González, Country Manager of BBVA Spark in Colombia and Argentina.
In parallel, the funding from the IFC, a member of the World Bank Group, and Covalto, a Mexican bank focused on backing startups and SMEs across Latin America, will support Clara’s expansion in Mexico. Notably, the IFC aims to foster the growth of businesses with potential for social impact through this investment, particularly those led by women.“Our investment in Clara reflects IFC’s strategy to catalyze technological solutions that foster job creation, financial inclusion, and productivity across the region. By supporting Clara’s expansion, we are helping more companies optimize their operations and access tools that drive growth,” said Sanaa Abouzaid, IFC Country Manager for Mexico.
Mark McCoy, CEO of Banco Covalto, also stated: “With credits like this, Covalto demonstrates its commitment to supporting fintechs and to developing the structured credit ecosystem in Mexico and across Latin America. Our goal is to match the pace and real needs of venture-backed companies. That’s why we collaborate with companies like Clara to help them grow.”
This announcement, together with Clara’s USD 80 million in funding announced earlier this year, demonstrates the company’s readiness to scale into its next stage of growth with new capital markets partners. Together, these developments consolidate Clara’s position as the leading solution for corporate financial management in Latin America, already serving some of the region’s largest enterprises, such as Hilton, Bolsa Mexicana de Valores, Femsa, Smartfit and Movistar.
“This funding puts us in a uniquely strong position, as the only corporate payment solution in Latin America backed simultaneously by financial institutions of this stature. I’m confident that we'll empower many more businesses, have a positive social impact and foster a virtuous cycle across the region”, says Gerry Giacomán Colyer, co-founder and CEO of Clara.
Over the past few years, Clara’s product portfolio has expanded beyond corporate cards and spend management to include a broader set of payment solutions that address the evolving needs of businesses and allows them to consolidate all their payment operations in one intelligent platform. As Clara continues growing its portfolio of over 20,000 active organizations, including some of the largest and most successful enterprises in the region, additional capital is key to supporting the development of new products and driving growth.
About Clara
Clara is the leading corporate spend management solution in Latin America. Its platform, designed to automate financial operations and deliver an unparalleled level of control and efficiency, includes corporate credit cards, invoice management, bill payments, cross-border payments, and proprietary real-time expense management software.
Launched in 2021 as a Latin American company, it has since raised investments from leading regional venture capital firms such as Monashees, Kaszek Ventures, and Canary, as well as global investors including Notable Capital, Coatue, DST Global, ICONIQ Growth, General Catalyst, and Goldman Sachs.
Clara's mission is to empower companies to operate with agility and clarity, helping them become more efficient and less bureaucratic through a platform that integrates multiple payment methods with its innovative spend management tools.
For more information about Clara’s products and solutions, visit clara.com.
About BBVA Spark
BBVA Spark is the bank for technology companies and venture capital funds. BBVA Spark allows all its customers to cover their financial needs in one place, from the most basic products, such as collections/payments, payroll, cards, etc. to structured financing products, such as venture debt or Asset Backed Lending, adapted to companies already in more advanced stages of development or that already have funds from venture capital investors in their “captable”. BBVA Spark is already present in 5 regions, has more than 1,700 customers and has facilitated almost 750 million euros in bank financing for both working capital solutions and long-term investment projects.
About Covalto
Covalto is a leading digital banking and financial services institution for SMEs in Mexico. The company offers an ecosystem of credit, banking and payment solutions, as well as a suite of business analytics tools, primarily serving the SME market in Mexico with the vision of empowering it. Covalto is backed by a group of world-class institutional investors, including QED, Kaszek, Goldman Sachs, Point72 Ventures, Ignia, Rithm Capital, and Victory Park Capital. For more information, visit www.covalto.com
About IFC
IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2025, IFC committed a record $71.7 billion to private companies and financial institutions in developing countries, leveraging private sector solutions and mobilizing private capital to create a world free of poverty on a livable planet. For more information, visit www.ifc.org.