August 11

Goldman Sachs Group Lends $150 Million to Clara to Meet Latin America Firms’ Need for Loans

Helping to meet Latin American corporations’ need for loans and assistance with spend management, Goldman Sachs Group has lent $150 million to Clara, a Mexican startup that provides lending services to businesses in Mexico, Brazil and Columbia.

With the new financing, the Mexican company — which achieved unicorn status in December — will increase its lending operations, invest in its product and expand geographically, with Peru and Chile being next on its agenda, the company announced Monday (Aug. 8). 

In addition, Clara is working to double the number companies it works with — which currently stands at 5,000 — by the end of the year. Clara is the fourth startup in Latin America to which Goldman Sachs Group has extended credit lines recently, with others including Konfio, MercadoLibre and Nubank, per a Bloomberg report. 

As in other regions, both the consumer side and the business side in Latin America have seen massive growth in the acceptance of digital payments, Clara CEO and co-founder Gerry Giacomán Colyer told PYMNTS in a December interview. 

Photo courtesy of sallyjermain.

Source: PYMNTS (link opens in a new window)

business development, corporations, financial inclusion, lending, startups