Clara Appoints Former Nubank and Bitso Executive to Lead Product in Brazil

São Paulo, May 25, 2023 - With Brazil as its growth priority for 2023, Clara, a Latin American corporate card and spend control platform, recruited Eduardo Moore as Product Director for Brazil, where he will lead local actions and also influence the sector's operations in Mexico and Colombia.

Moore has more than ten years of experience in the financial market, having led product development in the cards, payments and web3 areas at Bitso and headed the innovation and product team for credit cards at Nubank. He also had a stint at Lazard and Bain & Company, developing and executing financial strategies focused on M&A and Private Equity.

“It is an honor to join Clara and its mission to simplify financial processes in companies. We already have the best corporate spend management platform that combines control and flexibility, and we will intensify our presence in the region's main markets, especially Brazil,” said Moore.

For Clara's CEO and co-founder, Gerry Giacomán Colyer, Moore's arrival will boost the launch of new services and features on the company's platform, consolidating Clara's leadership in the Brazilian corporate spend management market. “We are building the best team, with experienced professionals who come from the largest reference companies in the region; this will allow us to continue building cutting-edge products and technology. I am sure Eduardo will contribute to consolidating the brand and its leadership in the Brazilian market,” he concluded.

With Moore's arrival, Clara will continue to support the growth of the Latin American technology hub, focusing on product development and offering the best experience through its digital corporate spend management platform.

In the last month, the company raised US$60 million from GGV Capital to boost the development of its technology solutions, in addition to contributing to its consolidation as the leader in the Latin American market.

Clara's Brazilian operation will receive close to R$100 million in investments by the end of 2023. The goal is to accelerate the company's expansion, which should reach 5,000 customers this year; today Brazil is Clara's second-largest market, with more than 2,000 customers and R$600 million transacted in 2022.

Since its launch, Clara has had leaders with years of experience in the financial and technology sectors. The broad experience of the leadership team has enabled the company's solid growth, backed by international investors ranging from monashees and Kaszek to funds such as Goldman Sachs, Accial Capital and, more recently, GGV Capital.

The company was also recognized by LinkedIn as one of the most promising startups in Latin America. Today Clara has a portfolio of more than 10,000 of the most successful companies in the region and reports annual transactions in the billions of dollars.