FinTec

The Argentine fintech Ualá receives an investment of 350 million dollars

The South American unicorn raised capital in a series D round led by SoftBank and Tencent.
Next Article
The Argentine fintech Ualá receives an investment of 350 million dollars
Image credit: Cortesía Ualá
Pierpaolo Barbieri, fundador y CEO de Ualá.
3 min read
This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.

The Argentine fintech Ualá announced a new round of investment for 350 million dollars, which reached a value of 2.45 billion dollars .

Series D was led by SoftBank Latin America Fund , the Latin American market-focused technology fund of the Japanese bank and Tencent, a Chinese technology company. This injection of capital represents the largest round of private investment that an Argentine company has received.

The investment also featured the participation of investors such as funds managed by Soros Fund Management LLC, funds managed by Goldman Sachs Asset Management, LP, Ribbit Capital, Greyhound Capital, Monashees and Endeavor Catalyst. It also incorporates new funds such as D1 Capital Partners and 166 2nd along with angel investors such as Jacqueline Reses and Isaac Lee.

“With less than 4 years in the market we achieved a historic milestone for Ualá. We are honored to attract some of the best investors in the world to focus on financial inclusion and innovation in Latin America, a mission that drives everything we do. These funds will drive our ambition to provide simpler, fair and transparent financial services, both in Argentina and Mexico. " said Pierpaolo Barbieri, founder and CEO of Ualá .

Ualá has more than 3.5 million cards issued in the region and less than a year after successfully starting its operations in the Mexican market, Ualá developed a complete financial ecosystem that offers the possibility of accessing a free international Mastercard card, paying services. In Argentina, request personal loans and collect with Ualá Bis, the solution for entrepreneurs and merchants that allows you to sell through a payment link or mPOS.

The financing received will allow Ualá to continue with its hiring plan that will lead it to end 2021 with 1,500 employees and develop new business verticals, providing innovation and technological development in Latin America.