“We’re going to use this to scale Argentina, where my goal is to be the largest bank in the country, not just by users but by book,” founder and CEO Pierpaolo Barbieri said in an interview with Bloomberg News.
Ualá Eyes Banking Expansion After $2.75 Billion ValuationArgentine fintech company Ualá has raised $300 million from investors at a valuation of $2.75 billion, the latest funding haul for one of the most valuable startups in Latin America. The VC arm of insurance giant Allianz has led a $300 million Series E funding round for Ualá. Stone Ridge Holdings Group, Tencent, Pershing Square Foundation, Ribbit Capital, Goldman Sachs Asset Management, Soros Fund Management, Rodina, SoftBank Latin America Fund, Jefferies, D1 Capital Partners, Claure Group, AlleyCorp and Monashees all joined the round.