Tally Launches in Mexico With Clara as Its Financial and Technology Partner

• Tally officially announces its operations and presents itself as the first legal solution that reduces bureaucratic processes to incorporate a company in Mexico
• Tally's specialty includes softlanding for companies expanding to Mexico as a result of nearshoring, as well as support for the legal incorporation of new ventures

• While operating in stealth mode, the platform has incorporated more than 600 companies in Mexico and expects to do the same with 500 more in the remainder of 2023
• With the goal of continuing to contribute to entrepreneurship and innovation in the region, Clara will be the financial and technology ally of companies that incorporate their businesses through Tally

Mexico City, May 11, 2023 - With the aim of helping entrepreneurs easily establish their businesses in Mexico, Tally, a platform offering incorporation and management services for companies in Mexico, officially announced its presence in the country alongside Clara, a digital spend management platform for companies in Latin America.

Founded by Pablo Rocha and Ignacio Bermúdez, Tally presents itself in Mexico as the first legal solution that allows both Mexican and foreign companies to incorporate in the country five times faster than average, thanks to the optimization of bureaucratic processes. The platform simplifies the start and growth of companies by offering traditional incorporation services in the country, such as SAT registration, accounting services, and the opening of business accounts and business credit cards backed by Clara.

In an economic context where nearshoring has become an increasingly common practice, this alliance aims to facilitate the operation and incorporation of companies expanding in Mexico, as well as to boost Mexico and Latin America's entrepreneurial and innovative ecosystem. Companies that decide to incorporate through Tally will automatically have access to the card, payment and financing products offered by Clara.

“Although today our products have been adopted by companies of all sizes and industries, Clara was born as a platform and technology solution that allows companies to focus on their main competitive advantages without having to compromise the agility and growth their businesses usually experience,” said Youmna Harb, Country Manager of Clara in Mexico. “As entrepreneurs, we understand firsthand the need for digital, agile and innovative spend management products that allow companies to be successful and grow profitably. In a context of great challenges for the entrepreneurial ecosystem, we are excited to be Tally's ally, because through agile solutions we will drive the growth of new companies in Mexico and Latin America,” concluded the executive.

“We are pleased to make Tally's launch official in the country and to form this alliance alongside Clara, who share our vision of boosting the entrepreneurial ecosystem in Mexico and Latin America. Our goal is to turn the region into a global power, and for that it is essential to support companies present in the region with digital solutions that fit their growth needs.” said Pablo Rocha, CEO of Tally.

Today Tally has served more than 1,200 entrepreneurs and during this year seeks to consolidate its operation in Mexico. For 2024, Tally plans to expand its platform to Colombia, Peru and Chile. On the other hand, Clara serves more than 10,000 companies in Latin America, has secured US$400 million in capitalization and reports more than five million credit card transactions equivalent to US$1 billion on an annualized basis.

If you want to learn more about this alliance, visit the following link.

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, GGV Capital, DST Global Partners, monashees, Kaszek, A*, ICONIQ Growth, Box Group, Global Founders Capital, Canary, Citi Ventures, Picus Capital, Avid Ventures and SV Angel, as well as dozens of recognized angel investors.

To learn more, visit clara.com

About Tally

Tally is the comprehensive solution for founders and business owners in Mexico, facilitating the start and growth of companies by offering incorporation services, SAT registration, business account opening, corporate credit cards and accounting. Since its beginning two years ago, Tally has dedicated itself to perfecting its product and has helped more than 1,200 entrepreneurs incorporate their companies quickly and efficiently.

Founded by Pablo Rocha and Ignacio Bermúdez, Tally has a team passionate about transforming Latin America into a global power. The platform is designed both for early-stage SMEs and for global companies seeking to expand in Mexico.

For more information, visit tallylegal.io