Argentinian FinTech Ualá secures additional $66m to fuel expansion

By Gloria Methri

Ualá, the Latin American neobank, has extended its Series E funding round driven by investor demand, securing an additional $66 million and bringing the total raised to $366 million. The initial close of the round, led by Allianz X, took place in November 2024. The second close included the participation of the Spanish media company TelevisaUnivision.

The new investment bolsters the company’s goal to accelerate its expansion in Mexico, Argentina and Colombia while continuing to innovate in digital financial services.

“We are proud of the investor demand to be part of our story, which reaffirms their trust in our long-term vision of creating better and fairer financial services for Latin America,” said Pierpaolo Barbieri, Founder and CEO of Ualá. “The future is inspiring. We will continue to develop world-class financial products, increase investment and explore new growth opportunities across Latin America. Ualá is uniquely positioned for this revolution, being the only neobank with full bank licenses approved and operational in every market where we operate, combined with cutting-edge technology that allows us to scale efficiently and deliver an unparalleled user experience.”

The Series E round, initially announced in November 2024 and led by Allianz X, marked the most significant growth equity fundraising round in Latin America in the past three years. The first closing also included participation from new and existing investors such as Stone Ridge Holdings Group, Tencent, Pershing Square Foundation, Ribbit Capital, Alan Howard, Goldman Sachs Asset Management, Soros Fund Management LLC, Rodina, SoftBank Latin America Fund, Jefferies, D1 Capital Partners, Claure Group, AlleyCorp and Monashees.

Hughes Hubbard & Reed LLP acted as legal advisors, and J.P. Morgan worked as the sole placement agent for the second closing.

In only seven years since its launch, Ualá has built a comprehensive suite of financial services, serving over nine million users with a broad range of offerings, including debit and credit cards, loans, investments, payment solutions, and acquiring services for merchants. The company’s proprietary credit scoring technology, UaláScore, leverages AI-driven insights to expand access to credit and financial inclusion throughout the region.