Clara, a Latin American corporate spend-management company, raised $105 million, including a $65 million Series C and $40 million in renewed growth financing, Bloomberg reported, as summarized by Techmeme^1,2.

Bloomberg’s publicly visible takeaways describe Clara as São Paulo-based and say the money is meant to expand sales and engineering teams, build artificial intelligence tools and enter new markets as the company develops more financial products².

The $65 million Series C equity round was anchored by Citius, Kaszek Ventures and DEG, a subsidiary of Germany’s KfW Group, the company said in a statement cited by Bloomberg².

Bloomberg’s takeaways say the remaining $40 million is renewed growth financing, a debt-like facility from longtime backer General Catalyst’s Customer Value Fund².

Startups, a Brazilian trade site, reported the same $105 million total, the same Series C anchors and the General Catalyst Customer Value Fund renewal³.

Startups said Clara announced the raise on Tuesday and that the Series C is primary equity for platform development while the General Catalyst line is aimed at commercial expansion, including marketing and sales³.

The company was founded in Mexico in 2021 and entered Brazil the following year, Startups reported³.

Brazil is the main investment priority and already Clara’s largest market by number of clients, according to Startups, which said more than half of the company’s investments, including those tied to this raise, will go there³.

Clara told Startups it has more than 75 openings in Brazil and more than 100 globally, and that it has surpassed $100 million in annualized net revenue while serving more than 45,000 clients³.

The company said its operation has been EBITDA-positive for more than a year and that it did not disclose a valuation, while confirming the valuation increased versus the prior round, Startups reported³.