The firm stated that the equity funding round was spearheaded by Allianz X, the investment branch of the German insurance corporation Allianz SE. Ualá’s revised worth reached $3.2 billion.
The capital secured will be employed to hasten the development and broadening of Ualá’s financial platform throughout Latin America. This funding involved contributions from both novel and returning backers, such as Stone Ridge Holdings Group, Tencent, Soros Fund Management LLC, TABLE Holdings LP, and D1 Capital Partners. This round follows a Series E round in 2024, which assessed the business at $2.75 billion and generated $366 million.
This added capital also strengthens the fintech firm’s collaboration with Allianz, especially concerning integrated insurance, merely weeks after Ualá introduced life and casualty coverage on its application for users in Argentina.
The funding emerges amid heightened positivity surrounding Argentina’s outlook after the midterm polls from last October: price increases are lessening, borrowing rates are steadily decreasing, and the financial landscape is stabilizing, which might foster growth in credit and consumer borrowing.
Established in 2017, Ualá presently furnishes transactions, lending, vendor acquisition, and investment offerings, catering to in excess of 11 million users across Argentina, Mexico, and Colombia.
Source: Bloomberg