The funding was led by Anthemis and joined by 2018 UKBAA Angel Investor of the Year, Chris Adelsbach – it was the first ever investment made by the Anthemis and BBVA Partnership.

Cledara was founded by Cristina Vila in July 2018. It helps businesses manage purchases, especially subscriptions, with the infrastructure for teams to collaborate with remote works. By tracking the ‘who’ and the ‘why’ behind each purchase, Cledara gives organisations insight into their spending.

The money raised from this funding round will help Cledara expand the team, particularly in product, engineering and UX.

Vila said: “We are delighted to welcome Anthemis, BBVA and Chris to Cledara. Anthemis has been a fintech pioneer from the very beginning, and its experience, combined with BBVA’s expertise, resources and reach will massively accelerate Cledara’s growth.”