Clara Completes One Year in Brazil with BRL 600 Million in Annualized Card Transactions

• The Latin American corporate finance solution has helped more than a thousand Brazilian companies revolutionize expense management.
• Brazil has become Clara’s second-largest market, behind only Mexico.

São Paulo, December 21 - Clara, a Latin American corporate expense management solutions company, completes one year of operations in Brazil this month. With more than 27,000 corporate credit cards, physical and virtual, issued in the country and nearly 500,000 transactions processed at an annualized value of USD 600 million, Clara has helped Brazilian companies revolutionize expense management with solutions that simplify financial and budget planning.

Since arriving in the country, the fintech has surpassed 1,100 clients and now includes major brands such as Rappi, Amaro and Meliuz. Companies use the solution mainly for corporate expenses (travel, food and mobility), administrative expenses (office supplies and coworking subscriptions) and spending on advertising and software subscriptions. All expenses are updated in real time on the Clara platform, where it is possible to control expenses by department and by user, set limits and expense types for each card and simplify the entire reimbursement process with easy receipt uploads.

“Despite the challenging economic scenario, the product fits perfectly with the needs of Brazilian companies seeking greater operational efficiency. That allowed us to expand quickly in the Brazilian market. Today, Clara’s corporate cards in Brazil have already processed more than USD 48 million in domestic and international purchases. The Brazilian operation already represents almost 30% of the group, and this is just the beginning,” says Clara’s General Manager in Brazil, Layon Costa.

According to the executive, the company continues to hire and currently has 13 open positions, most of them in technology. “In Brazil we are already around 70 claridians — as we call our employees — and we should keep growing,” Costa said.

The General Manager also highlights that the relentless pursuit of innovation and security has put the company in a leading position. According to him, in 2022 alone Clara released more than 15 updates to its platform, including invoice reconciliation, ERP integrations and card restrictions by use. It also launched Clara Pontos, a program that gives clients points and statement discounts.

Through Clara, companies can access unlimited issuance of internationally accepted cards, with credit limits that meet clients’ needs. Clara’s platform also allows all transactions to be tracked and controlled in real time.

“We know that Clara’s true challenge is to offer solutions based on the constant transformation of the Latin American entrepreneurial ecosystem, and to ensure these technology products solve the real problems and challenges each of those markets faces,” the executive concludes.