While VC funding to Latin American startups saw a year over year decline, the fact that it is stabilizing offers hope to the industry.
Mexican fintech Clara secured a $90 million debt facility as it plans to grow its footprint in South America.
In eight months since its creation, Clara became a unicorn, the fastest Latin American startup to obtain this designation yet.
The new alliance between Banca Afirme and Clara guarantees the investment of $55 million throughout 2023 for 200 businesses in LatAm.
More than two dozens neobanks are vying for digital customers in Mexico, Latin America's second-largest economy.
The resources from the new investment, according to the fintech's CEO, will be used to reinforce the team of engineers and invest in the development of new products.