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.
Mexican fintech Clara secured a $90 million debt facility as it plans to grow its footprint in South America.
While VC funding to Latin American startups saw a year over year decline, the fact that it is stabilizing offers hope to the industry.
The new alliance between Banca Afirme and Clara guarantees the investment of $55 million throughout 2023 for 200 businesses in LatAm.
In eight months since its creation, Clara became a unicorn, the fastest Latin American startup to obtain this designation yet.