Clara\u2019s co-founders Diego Iv\u00e1n Garc\u00eda Escobedo and Gerry Giacom\u00e1n Colyer Image Credits:<\/strong> Clara<\/p>\n<\/div>\n

As part of the new investment, GGV Capital managing director Hans Tung will join Clara\u2019s board of directors.<\/p>\n

\u201cThe Clara team is amongst the strongest that we have seen in Latin America,\u201d Tung said in a written statement. \u201cExpense management is a huge category globally, and Clara is the first to use software to build solutions in LatAm. The team had encountered spend management challenges as operating executives themselves and understood the problem well.\u201d<\/p>\n

The new funding will be used to grow Clara\u2019s engineering and product teams and technology development and to round out its leadership team.<\/p>\n

The company recently made new hires across engineering, product and risk that came from tech and financial giants like Meta, Nubank and American Express. They include Raquel Hern\u00e1ndez, vice president of engineering; Eduardo Moore, director of product for Clara Brazil; Alberto Ramos, director of operations; Nicolas Caccaviello, director of fraud and acceptance; and Tina Reich, who joins as board observer and risk advisor.<\/p>\n

Next up, Giacom\u00e1n Colyer said Clara has been an early developer of payment solutions around Brazil\u2019s instant payment method, Pix, and is close to launching its product. It is also looking at how artificial intelligence applications can benefit the gathering of data for insights into a customer\u2019s transactional profile.<\/p>\n

\u201cWe\u2019re only 2 years old, so we still see a ton of upside, including companies continuing to come to us every week,\u201d he said. \u201cJust in March we were meeting all these top line metrics, between 25% and 40%. It was a really outstanding month, and month over month, even in our most conservative scenarios, we see it continuing to grow over 2x through the end of this year.\u201d<\/p>\n

April 26 editor\u2019s note to correct the company\u2019s base to Mexico.<\/em><\/p>\n<\/p><\/div>\n

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