Ualá Closes US$300 Million Series E, Valuation Reaches US$2.7B

Ualá announced it has closed a US$300 million Series E funding round, raising the company’s valuation to US$2.7 billion. Led by Allianz X, this marks the largest private funding in Latin America in the past three years and is Allianz X's first investment in the region.

The funding will support Ualá’s efforts to expand its financial ecosystem and accelerate growth in its active markets. Launched seven years ago, Ualá now serves over eight million users, offering a broad range of financial services, including credit options, investment tools, yield-bearing accounts, payment processing, and merchant solutions, as well as holding banking licenses across the region.

“As a digital financial platform with our own banking licenses, a wide product range, and significant client growth since 2017, Ualá is uniquely positioned to capitalize on financial market opportunities in Latin America,” said Dr. Nazim Cetin, CEO, Allianz X. “Allianz X, with its extensive experience and support from a global insurance and asset management leader, is the ideal partner to back Ualá’s bold next steps.”

In Mexico, Ualá has reported a 14% monthly growth in active users since obtaining a banking license. The company has also developed UaláScore, an AI-driven credit scoring system that evaluates users’ profiles through in-app activity, enhancing credit accessibility through personalized financial solutions.

“This Series E round will propel our integrated financial ecosystem, now with fully operational banks in our markets,” said Pierpaolo Barbieri, founder and CEO, Ualá. “Our goal is clear: to become the largest bank in Argentina and achieve similar leadership in Mexico and Colombia while delivering top-notch products to our users and expanding further.”

The round includes 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, Rodina, SoftBank Latin America Fund, Jefferies, D1 Capital Partners, Claure Group, AlleyCorp, and Monashees. This capital raise is also the largest for an Argentina-based company since Ualá’s Series D in 2021.