In eight months since its creation, Clara became a unicorn, the fastest Latin American startup to obtain this designation yet.
While VC funding to Latin American startups saw a year over year decline, the fact that it is stabilizing offers hope to the industry.
SoFi acquired the engineering and product teams from mortgage startup Clara Lending; American Banker reported SoFi said of the deal it will help them to, “immediately ramp up our technical capabilities."; SoFi’s business is still reliant on student loan refinancing but this acquisition will allow them to increase their mortgage business in the next few years. Source.