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Nubank rival alert: Argentine fintech Ualá scores $350M at $2.45B valuation


A fintech company headquartered in Argentine, Ualá, has secured $350 million in a Series D funding, which takes its valuation to $2.45 billion. The investment round was co-led by SoftBank Latin America Fund, and Chinese tech giant Tencent. Also, previous investors including funds managed by Goldman Sachs Asset Management, funds managed by Soros Fund Management LLC, Ribbit Capital, LP, Monashees, Greyhound Capital, and Endeavor Catalyst took part in the round. Besides them, new investors D1 Capital Partners and 166 2nd and angel investors Jacqueline Reses and Isaac Lee also participated.

Notably, this is the largest round of private investment pumped into an Argentine company, thereby strengthening the exponential growth of Ualá and its leadership in the fintech ecosystem of the region.

The proceeds will let Ualá continue its ambitious talent attraction plan, which will let it have 1500 employees by the end 2021. Also, the fintech will be able to develop new business verticals in Latin America. In the region, Ualá has issued over 3.5 million cards in less than a year of starting its operations in Mexico.

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