Clara Secures Debt Financing For Up To $90m From Accial Capital To Strengthen Its Presence In Colombia
Clara, the leading digital end-to-end enterprise spending management platform in Latin America, announced the approval of up to $90 million in funding from Accial Capital, a debt provider based in the United States. The US focuses on emerging markets and its fund launches in the US. partnered with Skandia FCP IMPACTO, an impact-focused debt fund powered by Skandia, managed by Accial. Clara obtained this line of credit before completing her first year of operations in Colombia and approaching the company’s third anniversary.
“This funding will allow us to keep consolidating our products so that they can continue to respond to the financial and technological needs of companies in Colombia and Latin America. Additionally, our new offices in Medellin will be key to attracting the best local talent and building up our team. Our main goal is to meet the real needs of Colombian companies and to keep establishing the country as a technological hub in the region”,
Leonardo Ramos, Regional Director of Clara in Colombia.
Clara Colombia has more than 1,300 customers, distributed mainly in the fields of technology and financial services, e-commerce, retail and tourism. It started operations with an office in Bogota and recently announced the opening of an office in Medellin to strengthen its presence in the Antioquia market and be part of the technology ecosystem that shapes the city.
“At Accial, we are excited to contribute to Clara’s growth. Their market-leading solution has set the foundations to help more companies in Latin America manage their spending in a simple, quick and transparent way, and reliably access short-term credit”
Jared Miller, CEO of Accial Capital.
“For Skandia it’s a great pleasure to witness the first outcomes from IMPACTO, an investment vehicle based on ESG metrics, that we developed in alliance with Accial Capital with the aim to generate well-being and promote financial inclusion. All of this while supporting the fintech ecosystem companies growth, as Clara, whose business model positively and directly IMPACTS SMEs in Latin America”,
Santiago Garcia, Skandia Colombia CEO.
This is the second occasion in less than a year that Clara has secured a debt facility. In August 2022, Goldman Sachs approved financing for up to 150 million dollars that allowed them to strengthen their operations mainly in Mexico and continue consolidating as one of the fastest-growing and most popular expense management platforms in Latin America. “This new line of credit is a vote of confidence in Clara’s business model from international investment funds and recognizes our impact and progress in empowering Colombian businesses”,
Gerry Giacomán Colyer, CEO and Co-founder of Clara.
“This deal represents a major milestone for Clara, as it allows us to continue evolving into an asset-light company with a solid funding structure. It becomes a fundamental pillar to achieve our growth plans while offering best-in-class solutions for our customers.”
Clarissa Morrison, Clara Capital Markets Director.
