Ualá raises $300 million

Argentina-based fintech company Ualá has raised $300 million in Series E funding led by Allianz X, with participation from 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. The round gives the company a $2.75 billion post-money valuation.

Founded in 2017, the neobank operates across Latin America and has 8 million users, with 17% of Argentina’s adult population using the service.

Ualá offers a range of products including payments, credit, merchant acquiring and investments.

“Our investment in Ualá offers both financial and strategic partnership opportunities, which can enable us jointly to penetrate new customer segments, capitalize on growth opportunities, and enhance customer experience.” – Nazim Cetin, Allianz X CEO.