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Klar, a Mexico City, Mexico-based digital financial services platform providing an alternative to traditional debit and credit services, raised a Series B funding of undisclosed amount. The round, subject to applicable regulatory approvals, including clearance of the Mexican Banking and Securities Commission (CNBV) and the Mexican Economic Competition Commission (COFECE), was led by General Atlantic, with participation from existing investors Prosus Ventures, Quona Capital, Mouro Capital, International Finance Corporation and WTI. As part of the transaction, Luis Cervantes, Managing Director and Head of General Atlantic’s Mexico City office, and Sofia Garrido, Vice President at General Atlantic, will join Klar’s Board of Directors.

Mexico cityDistrito federalLuis cervantesStefan mollerSecurities commissionInternational finance corporationMexican economic competition commissionMexican bankingGeneral atlanticProsus venturesQuona capitalMouro capitalManaging directorSofia garridoVice presidentInternational finance