IFC joins BBVA Spark and Covalto to provide US$70 million in financing for Clara’s expansion in Mexico and Colombia

Mexico City, November 25, 2025. The International Finance Corporation (IFC), a member of the World Bank Group, announced its participation in a US$70 million structured debt facility to support the growth of Clara, Latin America’s leading corporate spend management platform.

The financing, provided jointly by IFC, BBVA Spark and Covalto, will accelerate Clara’s expansion in Mexico and Colombia and strengthen its fast-growing corporate credit card and bill payment products. This new facility complements Clara’s existing debt relationship with Goldman Sachs, which began in 2022.

The facility from BBVA Spark, BBVA’s business unit focused on the entrepreneurial and tech ecosystem, will 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 transforming corporate spend management for Colombian businesses,” said Eduardo González, Head of BBVA Spark in Colombia.

In parallel, IFC and Covalto, a leading financial services platform for SMEs, will support Clara’s expansion in Mexico. IFC’s investment reflects its commitment to fostering technological solutions that drive inclusive growth. “Our investment in Clara reflects IFC’s strategy to catalyze technological solutions that foster job creation, financial inclusion, and productivity across the region. By supporting Clara’s expansion, we are helping more companies optimize their operations and access tools that drive growth,” said Sanaa Abouzaid, IFC Country Manager for Mexico.

"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. I’m confident that we'll empower many more businesses, have a positive social impact and foster a virtuous cycle across the region,” said Gerry Giacomán Colyer, co-founder and CEO of Clara.

This announcement follows Clara’s US$80 million funding round earlier this year, reinforcing the company’s readiness to scale with strong capital markets partners. Clara already serves more than 20,000 organizations, including major enterprises such as Hilton, Bolsa Mexicana de Valores, Femsa, Smartfit, and Movistar.

About Clara

Clara is the leading corporate spend management solution in Latin America. Its platform, designed to automate financial operations and deliver an unparalleled level of control and efficiency, includes corporate credit cards, invoice management, bill payments, cross-border payments, and proprietary real-time expense management software.

Launched in 2021 as a Latin American company, it has since raised investments from leading regional venture capital firms such as Monashees, Kaszek Ventures, and Canary, as well as global investors including Notable Capital, Coatue, DST Global, ICONIQ Growth, General Catalyst, and Goldman Sachs.

Clara's mission is to empower companies to operate with agility and clarity, helping them become more efficient and less bureaucratic through a platform that integrates multiple payment methods with its innovative spend management tools.

For more information about Clara’s products and solutions, visit clara.com.

About BBVA Spark

BBVA Spark is the bank for technology companies and venture capital funds. BBVA Spark allows its clients to cover all their financial needs in one place, from the most basic products, such as collections/payments, payroll, cards, to structured financing products, such as venture debt or asset backed lending, adapted to those companies that are already in more advanced stages of development or that already have venture capital investors in their cap table. BBVA Spark is already present in 5 geographies, has more than 1,500 clients and has facilitated nearly 600 million euros in bank financing, both to offer working capital solutions and to support long-term investment projects

About Covalto
Founded in 2015, Covalto (formerly Credijusto) is one of the pioneers in building the technological infrastructure to leverage digital taxes, electronic invoicing, and other financial data to underwrite and serve SMEs at scale. The company has created a comprehensive solution for SMEs by bringing together a multi-product credit offering, banking services, and a complete suite of business analytics tools. The company is backed by a group of world-class institutional investors, including QED, Kaszek, Goldman Sachs, Point72 Ventures, Ignia, Rithm Capital, and Victory Park Capital.