Fintech Ualá announces that it will invest US$150 million in Latin America over the next 18 months. In addition, it said it will seek to increase its current number of users from 5 million to more than 25 million by 2027.
Last year the financial technology company reached a valuation of $2.45 billion following a Series D raise led by SoftBank Latin America Fund and Tencent in 2021. So far, the Argentine company fintech has raised more than $545 million in funding.
Ualá has products such as an international debit Mastercard, a point-of-sale terminal, and remittance services. These have been enhanced by the acquisitions that the fintech has made in the region, such as the purchase of Wilobank, the first digital bank in Argentina, which gave the company a banking license in the country.
Addition to Softbank Latin America Fund and Tencent, Ualá is backed by Endeavor Catalyst, Monashees, Soros Fund Management, and D1 Capital Partners.