Ualá, a digital banking platform operating in Argentina, has secured $195m in an equity funding round led by Allianz X, the investment division of Allianz Group.
The funding round included participation from Stone Ridge Holdings Group, Tencent, TABLE Holdings, L.P., Soros Fund Management, and D1 Capital Partners.
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This new investment places Ualá’s post-money valuation at $3.2bn.
The company will use the funds to support its growth across Latin America.
Ualá holds full banking licences in each of its markets and reports a customer base exceeding 11 million.
The company offers a digital platform with services such as debit and credit cards, lending, investments, insurance, and merchant acquiring.
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By GlobalDataThe latest funding also builds on an existing partnership between Ualá and Allianz.
The two companies have already launched digital life and personal accident insurance products in Argentina, generating over 300,000 quotes shortly after introduction.
In Argentina, Ualá states that nearly one in five adults use the platform. In Mexico, customer activity has reportedly increased by 7% each month since receiving a banking licence.
Ualá CEO and founder Pierpaolo Barbieri said: “We are building the most comprehensive and innovative banking platform in the region, and we are grateful for the continued trust of our investors. We are proud to deepen our partnership with Allianz X as well as existing and new investors.”
Ualá’s Series E round was completed in 2024 with a total of $366m raised.
Company figures indicate that more than 9.2 million loans have been issued via the platform and over 3 million clients have used Ualá for investment purposes since launch.
