Clara will now aim to offer its customers throughout Mexico, Colombia and Brazil Sumsub’s “full-cycle” verification platform and KYC/AML compliance expertise.
Sumsub, a verification and compliance solutions provider, announced its partnership with Clara, the solution in Latin America for corporate expense management.
This alliance will aid Sumsub in establishing relationships in Mexico, Brazil and Colombia thanks to Clara’s network of trusted cooperation, whereas Clara will offer its ecosystem of customers an opportunity to “reduce operational costs, stay compliant with evolving regulations and expand globally through Sumsub verification and compliance solutions.”
Both companies share the same core values and key goals in their everyday work and planning, aiming to empower businesses with tech stack to “improve their operations, reach their growth targets without hurdles and succeed.”
Sumsub platform supports its partners and clients across “a variety of sectors including fintech, trading, crypto, iGaming and mobility with hassle-free Know You Customer (KYC) product as well as detailed Anti-Money Laundering (AML) compliance expertise incorporated into its solutions.”
Clara assists businesses in streamlining their payments and transactions, offering “an effective and agile expense management platform.”
The partnership between the organizations is, therefore, now set to bring various “benefits to the markets throughout Latin America, while at the same time reinforcing the industry standards for businesses that both firms naturally adhere to.”
Leonardo Ramos, Country Manager for Mexico and Colombia at Clara said:
“At Clara, our priority is to offer businesses tools that empower them to operate with efficiency and agility. By partnering with Sumsub, we are providing our clients access to a cutting-edge identity verification solution that simplifies compliance with KYC and AML regulations. This collaboration ensures the highest standards in data security and regulatory compliance. We are excited to see how this benefit will support our clients across Latin America in scaling their operations smoothly and securely.”
Sebastian Crespo, Partnerships Manager for North and South America at Sumsub said:
“Partnering with Clara is an important milestone for Sumsub to support our focused growth in the Latin American market. With the fintech, e-commerce and payments industries booming in the region, we’re happy to provide our compliance expertise and innovative verification tools. Through this partnership, Sumsub is taking the next big step in helping global companies ensure compliant operations, cost-efficiency and long-term client trust”.
Clara is the solution in Latin America for corporate expense management.
Its platform was developed “to automate financial operations and offer an unparalleled level of control and efficiency.”
Clara platform reportedly includes the following: “corporate credit card issuance, bill payments and cross border transactions, and proprietary real time expense management software.”
Founded in 2021, it operates in Brazil, Colombia, and Mexico.
As a Latin American multinational, Clara has secured investments from some of the region’s VCs, “such as Monashees, Kaszek, and Canary, as well as global investors like GGV, Coatue, DST Global Partners, ICONIQ Growth, General Catalyst, and Goldman Sachs.”
Clara’s purpose is to empower companies to operate with agility and clarity, assisting them in “becoming more efficient and less bureaucratic through a platform that supports all payment methods integrated into their innovative spend management platform.”
