Ualá, a Buenos Aires, Argentine-based fintech company, raised $350M in Series D funding.
The round was led by SoftBank Latin America Fund and Tencent with participation from funds managed by Soros Fund Management LLC, funds managed by Goldman Sachs Asset Management, LP, Ribbit Capital, Greyhound Capital, Monashees, Endeavor Catalyst, D1 Capital Partners, 166 2nd, along with angel investors such as Jacqueline Reses and Isaac Lee.
The company, which reached a valuation of $USD2.45 billion, intends to use the funds to expand operations, with plans to have a team of 1,500 employees by the end 2021, and its business reach, developing new business verticals, providing innovation and technological development in Latin America.
Led by Pierpaolo Barbieri , founder and CEO, Ualà provides has 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 enables them to sell through a payment link or mPOS. In addition, it is possible to take out insurance and invest in mutual funds.
The company currently has more than 1,000 employees, with more than 3.5 million cards issued in less than 4 years, more than a million users who invest in the mutual fund available in the app.
The company’s funding history includes:
- USD150M in Series C led by SoftBank Latin America Fund and Tencent with participation from Endeavor Catalyst and other existing investors such as funds managed by Goldman Sachs Asset Management , Soros Fund Management LLC , Monashees , Ribbit Capital , and Jefferies LLC (November 2019).
- Tencent made an undisclosed initial investment (April 2019).
- USD34M in Series B led by funds managed by Goldman Sachs Asset Management with participation from Ribbit Capital and Monashees (September 2018).
- USD10M in Series A led by Soros Fund Management LLC, along with Jefferies LLC , Point72 Ventures , Greyhound Capital, and entrepreneur Kevin Ryan , among others (January 2018).
FinSMEs
17/08/2021