With an investment of US$ 10 million, Clara, a Mexican fintech, has expanded into Colombia to equip local businesses of all sizes with a robust expense management platform. The offering includes a complimentary business credit card that carries no commissions or fees, aiming to simplify how companies spend and track funds across departments.
Gerry Giacomán, CEO and co-founder of Clara, emphasizes the company’s understanding of regional business needs. He notes that Clara’s mission is to bring the product suite to Latin American markets, delivering financial solutions that reduce friction in daily operations, resolve conflicts around employee spending on behalf of the business, and actively engage teams to drive better financial outcomes.
Users can apply for and receive a digital credit card online in under ten minutes, with no upfront costs. The platform enables online and in-store purchases, automates invoicing workflows, and provides real-time visibility into departmental budgets. It also allows setting spending limits and restrictions for staff, blocking certain products, and monitoring financial movements. Additional capabilities include handling tax-related tasks, transfers, and payments for essential services such as electricity, water, telephone, and internet, all from a single interface.
Leonardo Ramos, Clara Colombia’s Country Manager, highlights Colombia as a strategic hub for business growth and development in the region. He states that Clara intends to reinforce its role as a trusted ally for companies undergoing digital transformation, contributing to broader financial inclusion through fast, accessible, and modern products designed for the local market.
The fintech enters Colombia backed by MasterCard’s regional infrastructure, delivering a fully local service model that does not rely on third-party issuers or intermediaries for card issuance. This approach supports faster onboarding and more reliable service delivery in the Colombian market.
Federico Martínez, Country Manager for MasterCard Colombia, explains that the alliance with Clara aligns with MasterCard’s global mission to broaden financial inclusion. He points to MasterCard’s ambition to connect one billion people to the digital economy by 2025 and mirrors Clara’s vision of empowering small and medium-sized enterprises. The partnership focuses on delivering SME-focused solutions that meet specific local needs while ensuring service stability and quality through MasterCard’s expansive network.
Together, Clara and MasterCard emphasize practical, outcome-driven financial tools designed to help Colombian businesses manage expenses more transparently and efficiently, with an emphasis on speed, accessibility, and reliable support for growth and inclusion.