Miranda’s Weekly Mex FinTech Monitor

May 1, 2023

Mexico FinTech News 

Clara and Fairplay raise millions 

Following Pacto’s US$ 4 million round raised at the end of March, Clara and Fairplay have also raised new funds. Fairplay, which provides cash advances to ecommerce companies in exchange for future revenue, closed a credit line for US$ 100 million with Community Investment Management LLC. Additionally, the company secured US$ 8.5 million in additional equity capital from existing investors such as Dila Capital, Nazca, and Kayyak Ventures. Likewise, the business expense manager and credit card provider, Clara, raised US$ 60 million in a round led by GGV Capital, alongside Citi Ventures, Ethos, Commerce Ventures, and others. The funding will be invested to strengthen the company’s digital payments and expense management platform. While back in 2021 Clara was keen to announce its Unicorn status after its then Series B raise, this time round it would not disclose valuation, so presumably it was down.  

 

Forbes, 04/24/2023, Staff: Fairplay levantó una liìnea de creìdito de US$100M para apoyar nuevos emprendimientos en México 

Expansión, 04/26/2023, Luz Elena Marcos Méndez: El unicornio Clara recibe 60 mdd en nueva ronda de capitalización