Ualá raises $350 Million at $2.45 Billion Valuation for Fintech Industry

Ualá, the app from Argentina aimed to assist its clients with their finance management. It provides people with prepaid Mastercard cards and a host of services. Among these services are money transfers, bill payments, personal loans, insurance, etc.

The funding round Series D was led by the following investors – the Chinese company, Tencent, and the SoftBank Innovation Fund. Other participants were Goldman Sachs, Soros Found Management, Ribbit, Greyhound, Monashees. At that moment, the Ualá is valued at $2.45 billion. The company claimed that new fundings will be invested in products development. As well as increase the team from 1000 people up to 1500.

Ualá was launched in Argentina in 2017 by Pierpaolo Barbieri, the Executive Director of Greenmantle and economic historian. In 2020, Ualá was launched in Mexico. Being present in two countries, the company has already issued 3.5 million cards. Moreover, the company is to expand to Peru, Paraguay, and other parts of Latin America.

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