SAO PAULO—Mexican unicorn Clara has secured $90 million in fresh debt funding led by U.S. debt provider Accial Capital, the company said on Monday, as it looks to boost its expansion in Latin America.
The funds will help Clara, which offers corporate credit cards and expense management solutions, increase its footprint in Brazil, where it wants to more than double its customer base, and Colombia.
The company, which is now valued at over $1 billion, says Brazil is on track to become its biggest market by the end of 2024.
“We’ve been in the Brazilian market for over a year and we see the operation continues to grow even faster than the operation in Mexico did initially,” Clara Chief Executive Gerry Giacoman told Reuters….