According to its founder and CEO, Pierpaolo Barbieri, the funds raised will be used to develop more products in Argentina, Mexico, and Colombia.
Ualá, the Argentine neobank, reported that it has expanded its Series E investment round, raising an additional US$66 million to the original round, bringing the total raised to US$366 million.
As a reminder, the initial closing of the round was in November 2024 and was led by Allianz X, the investment arm of the Allianz Group, one of the world's leading insurers and asset managers. New and existing investors also participated, including 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. At this stage, the company was valued at US$2.75 billion.
Meanwhile, the second closing included the participation of TelevisaUnivision, the leading Spanish-language media company in Mexico and around the world.
"Today at Ualá we expanded our Series E by USD 66M, raising a total of USD 366M. This is to invest in the future. This will give us more capital to make more products in Argentina, Mexico and Colombia. We are honored by this trust in our team and our execution. @TeleUniCompany, the leading Spanish-language media company in Mexico and the world, is one of the investors that joined," said Pierpaolo Barbieri, founder and CEO of Ualá, on his X account.
The Argentine entrepreneur stated that they are proud of the demand from investors "for being part of our history." He also highlighted that Ualá is the only neobank with approved and operational banking licenses in every market in which they operate, "which allows us to scale efficiently and offer the best user experience."
In an interview, Pierpaolo Barbieri indicated that the company decided to raise more capital due to "overwhelming investor demand." However, he declined to reveal the names of other participants in the extension round.
