Candy Digital Secures $100 Million Investment in Series A Round; Values Company At $1.5bn
21 Oct, 2021
– Clara, a corporate spend-management startup focused on the Latin American market, announced its product launch and a $3.5m pre-seed round led by General Catalyst.
– The company’s funding caught TechCrunch’s eye as there has been a flurry of funding for related companies serving the United States market.
– Clara is in the first camp, making its revenues today from interchange incomes.
– The Mexican interchange market is more akin to the United States’ own (lucrative) than Europe’s own (less lucrative), meaning that if the company can sign up a host of customers for its free service — empieza hoy – sin costo, its website intones — it could post the same sort of revenue growth that has spurred some of its American comps to huge venture capital raises.