Clara Moves Its Headquarters to Brazil and Receives Authorization From the Central Bank

Focused on becoming Latin America's largest corporate payments solution, fintech Clara announces the move of its headquarters to São Paulo. The change comes at the same time as another important milestone for the company: on Wednesday, August 2, the Central Bank granted authorization for the startup to operate as a Payment Institution, electronic money issuer and post-paid instrument issuer. This authorization signals the maturity of the company and of Clara's regulatory strategy.

In practice, this will allow Clara to continue offering its products and services, such as post-paid corporate credit cards that are already a market reference, and to expand its digital product offering to consolidate itself as the main reference in corporate payments. In other words, from now on Clara can launch other payment methods, as well as digital accounts for companies, to facilitate and concentrate all expense management in one place.

So the company can focus on launching this new range of products in Brazil and reach its goal of making the country its largest market by 2024, most of its leadership - around 50% - will now be based in the region. "We want to offer much more than credit cards to our customers, increasingly with an enterprise profile. Central Bank authorization will be fundamental for that, but having our leadership working from here will also contribute a lot to helping us achieve our goals by next year," explains Gerry Giacomán Colyer, CEO and co-founder of Clara.

Today, Clara has doubled its transaction volume in Brazil every six months. The accelerated pace is aligned with the ambition to transact close to R$2 billion in credit cards per year in the country next year and even more through other payment methods that can be offered from now on. "We are in constant contact with our customers to listen to them and develop everything they need to operate with more clarity and agility. That explains our growth and also the reason why we worked to be recognized by the Central Bank as a Payment Institution. Soon we will have several launches that should deliver the tools they need to work more and more efficiently," summarizes Gerry.

About Clara

Clara is Latin America's leading solution for companies to make and manage all their payments, enabling the issuance of corporate credit cards, bill payments and international payments, and also offering spend management software. Founded in 2021, it operates in Brazil, Colombia and Mexico. As a Latin American multinational, Clara has raised investments from some of the region's most strategic VCs, such as Monashees, Kaszek and Canary, as well as global investors such as GGV, Coatue, DST Global Partners, General Catalyst and Goldman Sachs. Its ultimate ambition is to enable companies to operate with agility and clarity, helping them become more efficient and less bureaucratic through a platform that combines not only payment methods but also strategic, data-based intelligence.