Ualá, the Latin American neobank founded by Pierpaolo Barbieri, closed a new Series E investment round for $300 million and reached a valuation of $2.75 billion.
The round is 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 are also participating, 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.
The investment represents the largest private financing round in Latin America in the last three years, as well as Allianz X’s first investment in the region. In addition, it is positioned as the largest capital raising for a company based in Argentina since Ualá’s Series D in 2021.
Ualá will use the funds to expand its financial ecosystem and accelerate its growth in the markets where it operates.
In just seven years, it has created a complete financial services offering for more than eight million users, with banking licenses operating in the region. It provides the possibility of accessing credit options, investment tools, payments and collection solutions for businesses. In addition, it offers accounts that generate returns based on the balance on demand, with very competitive rates in each of the countries in which it is present.
«This Series E round will boost our financial ecosystem, now with banks fully integrated and operational in our markets. “The trust and support of our investors reaffirms our vision: we will soon be the largest bank in Argentina, and we aim for the same leadership in Mexico and Colombia,” said Pierpaolo Barbieri, founder and CEO of Ualá.
In parallel with the investment from Allianz
