“Can a single platform become the financial OS for Latin America's mid-market by owning corporate cards, AP, financing, and cross-border payments across Mexico, Brazil, and Colombia?”
Founded 2020 in Mexico City as a LatAm answer to Brex/Ramp — corporate credit cards plus spend management for the region's underserved SMB and mid-market segments. Built local card-issuing and payment-institution infrastructure rather than depending on US BaaS rails, registering as a Brazilian payment institution (Clara Instituição de Pagamento Ltda.) and Colombian entity (CF Tech Colombia). Has progressively layered on accounts payable financing, international payments to 40+ countries, and developer APIs to evolve from a card product into the spend operating system for LatAm finance teams.
Clara processes payments through Clara Corporate Cards (self-operated), Clara TravelPay (self-operated) and Click to Pay / EMVCo (Visa/Mastercard networks).
Clara integrates with SAP, Oracle, Custom ERP via REST API and Open API.
The Embedded Finance Index 2026 maps 3 layers in Clara's stack: Payments / PSP (Clara Corporate Cards (self-operated), Clara TravelPay (self-operated) and Click to Pay / EMVCo (Visa/Mastercard networks)); Lending (Clara credit line (revolving), Accounts Payable financing (up to 40 days) and Vendor payment financing for domestic and international invoices); Accounting (SAP, Oracle, Custom ERP via REST API and Open API).
Clara was founded by Gerry Giacomán Colyer and is founded in 2020, headquartered in Mexico City, Mexico (with offices in São Paulo, Brazil).
Clara has raised $200M+ equity plus debt facilities ($250M+ debt capacity as of 2026-02: Goldman Sachs, IFC, Covalto, BBVA Spark, General Catalyst CVF) in total (latest round: $80M expansion + growth funding (April 2025)).
Get a read on where your own stack stands against Clara and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.