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Clara, the leading end-to-end spend management solution for companies in Latin America, today announced that it has closed $60M USD in an equity financing round led by GGV Capital. In addition, GGV Managing Partner Hans Tung will join the company’s Board of Directors.
Shares of Nykaa have been on a free fall for quite some time as the stock is down 25 per cent in the year 2023 so far, while the stock has lost about 60 per cent of its value in the last one year.
The resources from the new investment, according to the fintech's CEO, will be used to reinforce the team of engineers and invest in the development of new products.
Clara is working with 10,000 companies and reports an annual run rate of 5 million credit card transactions, equivalent to $1 billion.
Mexican corporate credit card provider Clara said on Wednesday it has raised $60 million in an equity round led by GGV Capital, securing the investment as funds in the region begin to dry up. ... | April 26, 2023