Clara announces $105 million package after passing $100 million in annualized net revenue

Clara, which sells corporate cards and spend management to companies in Latin America, announced a $105 million financing package on November 10. The total combines a $65 million Series C equity round with the renewal of a $40 million growth financing line from General Catalyst's Customer Value Fund.

According to the company's announcement, the Series C was led by Citius, Kaszek and DEG, a subsidiary of Germany's KfW group. Other participants include Citi Ventures, Coatue, DST Global Partners, General Catalyst, Monashees and Notable Capital.

The numbers behind the round are the eye catching part. In its Portuguese language announcement, Clara says it has passed $100 million in annualized net revenue and has kept EBITDA positive for more than a year. It also says it serves more than 45,000 customers. These are company reported figures. The announcement reports EBITDA rather than a net profit figure.

The product bundles corporate cards, bill payments, expense management and accounts payable and receivable in one platform. Clara says AI agents can carry out authorized transactions and that expense policy checks run in real time.

For makers building business software, the interesting detail is automation attached to an existing payments platform. Clara says it will use the money to expand its commercial team and strengthen AI features. The financing headline also needs care: the $105 million includes a renewed facility, and the revenue figure is annualized rather than a full year's reported sales.