IFC Joins $70m Facility to Accelerate Clara’s Growth in Mexico and Colombia

The investment marks another major milestone for Clara, which has emerged as Latin America’s leading all-in-one platform for corporate expense control, payments, and financial operations.

The International Finance Corporation (IFC) — part of the World Bank Group — has announced its participation in a US$70 million structured debt facility that will fuel the expansion of Clara, one of Latin America’s fastest-growing corporate spend management platforms. The new financing package, provided jointly by IFC, BBVA Spark, and Covalto, aims to accelerate Clara’s growth in Mexico and Colombia, strengthen its corporate credit card offering, and scale its bill payment solutions for companies across the region.

The investment marks another major milestone for Clara, which has emerged as Latin America’s leading all-in-one platform for corporate expense control, payments, and financial operations.

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A Multilateral Push to Boost Latin America’s Digital Financial Infrastructure

The structured debt deal brings together three influential financial players:

• IFC, focused on private sector development and financial inclusion

• BBVA Spark, dedicated to scaling high-potential innovation and tech ventures

• Covalto, a leading digital financial services provider for SMEs in Mexico

Each institution will target support toward Clara’s regional growth ambitions:

• BBVA Spark will expand Clara’s payments products in Colombia

• IFC and Covalto will boost Clara’s operations in Mexico

This investment also complements Clara’s existing debt financing partnership with Goldman Sachs, established in 2022.

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BBVA Spark: Strengthening Clara’s Footprint in Colombia

BBVA Spark, the tech-focused innovation unit of BBVA, will channel its share of the funding into Clara’s rapidly expanding operations in Colombia.

“This financing marks a significant milestone in our partnership with Clara,” said Eduardo González, Head of BBVA Spark in Colombia. “We are proud to support a company that is transforming corporate spend management for Colombian businesses.”

Clara has experienced rapid uptake in Colombia, where businesses increasingly seek digital solutions to manage corporate cards, streamline expenses, and automate internal finance processes.

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IFC and Covalto: Supporting Expansion in Mexico

In Mexico — Clara’s home market and its largest base of operations — IFC and Covalto will drive the next stage of growth. The investment aligns with IFC’s broader mandate to foster digital innovation that advances inclusive economic development.

“Our investment in Clara reflects IFC’s strategy to catalyze technological solutions that foster job creation, financial inclusion, and productivity across the region,” said Sanaa Abouzaid, IFC Country Manager for Mexico. “By supporting Clara’s expansion, we are helping more companies optimize their operations and access tools that drive growth.”

Covalto’s involvement strengthens this commitment, leveraging its expertise in SME financial services to help Clara reach more underserved businesses.

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A Stronger Position in Latin America’s Corporate Payments Landscape

Clara’s co-founder and CEO Gerry Giacomán Colyer said the facility underscores Clara’s leadership in the corporate payments and spend management ecosystem.

“This funding puts us in a uniquely strong position, as the only corporate payment solution in Latin America backed simultaneously by financial institutions of this stature,” he said. “I’m confident that we'll empower many more businesses, have a positive social impact, and foster a virtuous cycle across the region.”

Clara’s platform offers:

• Corporate credit cards

• Automated expense tracking

• Vendor payment tools

• Real-time financial dashboards

• Integration with enterprise resource planning (ERP) systems

These tools have become essential for companies seeking greater control, transparency, and efficiency in financial operations.

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A Company Built for Scalability

This development follows Clara’s US$80 million funding round earlier in the year — a clear signal of investor confidence in the company’s business model, technological strength, and regional expansion plan.

Clara currently serves more than 20,000 organizations, ranging from high-growth startups to major multinational corporations. Its customer portfolio includes:

• Hilton

• Bolsa Mexicana de Valores

• Femsa

• Smartfit

• Movistar

• And numerous regional enterprises across Latin America

The new financing will allow Clara to onboard thousands more companies and expand its suite of financial tools tailored to the needs of SMEs, large enterprises, and multinational clients.

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Boosting Digital Transformation Across Latin America’s Business Ecosystem

The investment arrives at a time when demand for digital finance tools across Latin America is surging. Businesses are seeking:

• More flexible credit options

• Automated payment processes

• Real-time expense visibility

• Secure and scalable financial infrastructure

Clara’s platform serves these needs, and the new debt facility reinforces its capacity to respond to rapidly growing demand.

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A Catalyst for Financial Inclusion and Efficiency

The IFC’s involvement highlights its broader strategy to promote digital financial solutions that:

• Enhance productivity for businesses

• Support formalization of SMEs

• Foster inclusive access to credit

• Stimulate job creation

• Digitize traditionally manual and inefficient processes

With support from global and regional financial institutions, Clara is positioned to play an increasingly central role in Latin America’s digital transformation.

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Looking Ahead

Armed with new financing and backed by top-tier financial institutions, Clara is expected to accelerate product innovation, deepen its footprint in core markets, and expand into new Latin American economies in the coming years.

The initiative aligns with a growing trend of strategic collaborations between fintechs and major development finance institutions — partnerships aimed not only at commercial expansion, but also at fostering more inclusive, productive, and digitally enabled economies across emerging markets.