Foley & Lardner LLP recently represented GGV as an investor in the $60 million investment round for Clara, a Mexico-based spend management company. The investment is an extension of the Series B round and included new investors Acrew Capital, Citius, Citi Ventures, Endeavor Catalyst, Ethos, Commerce Ventures, Goanna Capital, Bayhouse Capital, and existing investors monashees, Coatue, Picus Capital, DST Global Partners, Alter Global, General Catalyst, and over a dozen angel investors.
The company launched its product in 2021 and provides reporting software for better financial decision-making, locally issued corporate cards, bill pay and financing solutions. It also continues to prove rapid growth. In addition, the company partners with financial institutions to provide additional lending capabilities.
The new funding will be used to grow Clara’s engineering and product teams and technology development and to round out its leadership team.
The Foley team was led by Partner André Thiollier and included Partner Fernando Camarena and Associates Talita Duarte and Aline Silva.