Argentinian fintech Ualá has secured $300 million in a Series E funding round led by Allianz‘s VC arm, raising its valuation to $2.75 billion. Investors in the round included Tencent, Goldman Sachs Asset Management, Soros Fund Management, and SoftBank Latin America Fund.
Launched in 2017, Ualá serves over eight million customers across Argentina, Mexico, and Colombia, offering services like money transfers, bill payments, and AI-driven credit options. The company has granted over seven million loans and continues to expand its product portfolio through its app.
CEO Pierpaolo Barbieri emphasized Ualá’s goal to become the largest bank in Argentina and expand its footprint in Mexico and Colombia, aiming to revolutionize banking in Latin America.