Banca Afirme and Clara Establish Strategic Alliance to Offer Long-Term Financing

• Loans of up to MXN$15 million with terms of up to 5 years
• The alliance expects to support more than 200 companies in 2023
• Credit disbursement will reach MXN$1,000 million in 2023
  

Monterrey, Nuevo León, April 10, 2023 - Banca Afirme announced an alliance with Clara, a digital platform for corporate spend management for companies in Latin America. Both institutions actively provide financial solutions to all types of companies, with innovative and highly competitive products in the market.

“Given its great growth and potential, this alliance is established, where Clara, with knowledge of its portfolio, opens the door for us to contact potential customers for our institution,” said Jorge Eduardo Vázquez García, Director of Alliances at Afirme Grupo Financiero.

He added that Clara joins as a commercial and technology partner to provide Banca Afirme with relationships with future credit customers in their promotion phase, which is also aligned with Afirme's development strategy in the business segment.

Likewise, José Carlos Martínez González, Director of SME Banking at Afirme, detailed that through this alliance Afirme makes credit lines available to Clara customers of up to MXN$15 million, with terms of up to five years; this complements the credit card and expense management products Clara currently offers its customers, with an estimate of supporting more than 200 companies this year and a credit disbursement of MXN$1,000 million. He added that “this business model provides access to a greater number of potential customers in less time, leveraging Clara's technology, which will make it easier for them to achieve the institution's objectives.”

On the other hand, Amando Villalobos, Director of Strategic Alliances at Clara, stated that “we are excited to form this type of synergy, especially with an institution like Afirme, since it allows us to expand the financing offer to our customers to meet the needs of their businesses. At Clara we reinforce our commitment to continue bringing not only the best corporate spend solution for companies in Latin America but also the best financing alternatives together with the best partners in Mexico and the region.”

Youmna Harb, Country Manager of Clara in Mexico, said that through this alliance Clara continues consolidating its product portfolio in the country and emphasized the importance of strengthening the business ecosystem through this type of action for the benefit of companies.

About AFIRME

Afirme Grupo Financiero integrates banking and financial services through subsidiaries such as Afirme Banco, in 26 states of Mexico and an important ATM network; Afirme Seguros, which provides personal and property security to individuals (auto, home, life and life-module insurance) and companies (fleet life insurance, business insurance); Afirme Arrendadora, as a source of financing for individuals and companies in the purchase of national or imported fixed assets; Afirme Factoraje, to support customers in quickly converting their accounts receivable and short-term working capital financing; Afirme Almacenadora, with modern facilities and a strategic location to offer companies and individuals storage, custody or preservation services for national or foreign merchandise; Investment Funds, with an offering that integrates a wide range of products that provide access to various financial markets; Microfinanciera, with a varied offer of consumer loans; and Investment Banking. www.afirme.com

About Clara

Clara is the leading spend control platform for companies in Latin America. Its comprehensive financing solutions, which include locally issued corporate cards, a payment product and spend management software, are already used by thousands of the most successful companies in the region. Clara is backed by the most important regional and global investment leaders, such as Coatue, DST Partners, General Catalyst, monashees, Kaszek, Canary, A*, BoxGroup, SV Angel, GFC, Picus Capital, Avid Ventures, ICONIQ Growth, Goldman Sachs and recognized angel investors. To learn more, visit clara.com