BBVA Spark supports Clara's growth in Colombia with USD 16 million in financing

Clara, Latin America’s leading corporate spend management platform, announces USD 16 million in structured debt financing from BBVA Spark. The capital will fund Clara’s fast-growing operations in Colombia, where the company has been doubling its payment volume year-on-year, as the company accelerates its expansion in Latin America.

The facility from BBVA Spark, the business unit specialized in supporting the entrepreneurial and tech ecosystem, will be used to scale Clara’s payments products in Colombia. “This financing marks a significant milestone in our partnership with Clara, empowering their continued growth and innovation. We are proud to support a company that is empowering Colombian companies by transforming and making more efficient corporate spend management”, says Eduardo González, Head of BBVA Spark in Colombia. The funds will also be strategic for the rollout of TravelPay, the company’s recently announced vertical payments solution built for the corporate travel segment.

This announcement, together with Clara’s recent USD 80 million equity and growth funding, demonstrates the company’s readiness to scale into the next stage of expansion. Together, these developments reinforce Clara’s position as the leading solution for financial management in Latin America, already serving some of the region’s largest enterprises, such as Rappi, Simetrik, Grupo Nutresa, Postobón, Juan Valdez and TeleColombia.

“This funding puts us in a uniquely strong position. We are already the fastest growing corporate card in Colombia. Having a partner of BBVA Spark’s caliber reinforces our ability to keep scaling with credibility and a long-term vision. I’m confident that we will empower many more businesses, have a positive social impact, and foster a virtuous cycle across the region”, says Gerry Giacomán Colyer, co-founder and CEO of Clara.

Clara’s product offer  was developed to automate financial operations and empower finance teams with unparalleled control and efficiency. Companies using the platform have access to corporate cards and a wide range of payment solutions. Everything is integrated into an expense management software powered by AI technology, offering real-time visibility and centralized control over all financial activities.