- The fintech reached a valuation of 2.45 billion dollars.
- It represents the largest round of private investment that an Argentine company has received
Ualá , the Argentine fintech, announced a new investment round for 350 million dollars and reached a valuation of 2.45 billion dollars. This Series D was led by SoftBank Latin America Fund, the technology fund focused on the Latin American market and Tencent , China’s leading technology company. It represents the largest round of private investment that an Argentine company has received, reinforcing the exponential growth of the company and its leadership in the region’s fintech ecosystem.
The capital injection also featured the participation of investors who had already been part of previous rounds 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, which which represents a great sign of support and a clear commitment to the potential of Ualá in the region. 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 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, 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. In addition, it is possible to quote consumption already made, take out insurance and invest in mutual funds.
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The financing received will allow Ualá to continue with its ambitious talent attraction 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.
“We are very impressed by Ualá’s ambition and execution. We are confident that our investment will enhance its growth, fostering a regional ecosystem capable of making financial services more accessible and transparent in the region,” said Marcelo Claure , CEO of SoftBank Group International. and COO of SoftBank Group.
“With less than 4 years in the market, we achieved a historic milestone for Ualá and also for Argentina . 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 what we do. These funds will further our ambition to provide simpler, fair and transparent financial services, both in Argentina and Mexico. ” said Pierpaolo Barbieri , founder and CEO of Ualá.
The growth of Ualá in numbers:
- More than 1,000 employees, projecting to reach 1,500 by the end of 2021.
- More than 3.5 million cards issued in less than 4 years.
- More than a million users invest in the mutual fund available in the app, the second largest in Argentina in number of people.
- More than 230 thousand credits granted.
- Just 8 months after its launch, the monthly volume transacted in Ualá Bis grew 27 times since its first full month of operation.
- About your user profile:
- 44% identify as female and 56% identify as male
- 55% of its users are between 18 and 30 years old
- 65% had no credit history at the time of downloading the app.
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