Ualá, the Latin American neobank, has extended its Series E funding round driven by investor demand, securing an additional $66 million USD and bringing the total raised to $366 million USD. The initial close of the round, led by Allianz X, took place in November 2024. The second close included participation of TelevisaUnivision, the number one media company in Spanish in Mexico and the world.
The new investment reaffirms global investor confidence in Ualá’s growth strategy and financial ecosystem and further underscores the company’s commitment to accelerating its expansion in Mexico, Argentina and Colombia while continuing to innovate in digital financial services.
“We are proud of the investor demand to be part of our story, which reaffirms their trust in our long-term vision of creating better and fairer financial services for Latin America,” said Pierpaolo Barbieri, Founder and CEO of Ualá. “The future is inspiring. We will continue to develop world class financial products, increasing investment, and exploring new growth opportunities across Latin America. Ualá is uniquely positioned for this revolution, being the only neobank with full bank licenses approved and operational in every market where we operate, combined with cutting-edge technology that allows us to scale efficiently and deliver an unparalleled user experience”.
The Series E round, initially announced in November 2024 and led by Allianz X, marked the largest growth equity fundraising round in Latin America in the past three years. The first closing also included participation from new and existing investors such as 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.
Hughes Hubbard & Reed LLP acted as legal advisors and J.P. Morgan acted as sole placement agent for the second closing.
In only seven years since launch, Ualá has built a comprehensive suite of financial services, serving over nine million users with a broad range of offerings, including debit and credit cards, loans, investments, payment solutions, and acquiring services for merchants. The company’s proprietary credit scoring technology, UaláScore, leverages
AI-driven insights to expand access to credit and financial inclusion throughout the region.
Read the orginal article: https://ffnews.com/newsarticle/funding/uala-secures-additional-66m-in-second-close-totalling-366m-for-its-series-e-funding-round/
