Argentina’s fintech industry is vibrant and rapidly expanding, emerging as a key player in Latin America (LatAm)’s fintech landscape.
As of 2024, the country was home to 383 fintech companies, marking the addition of 40 new startups compared to the previous year, according to Finnosummit’s 2024 Fintech Radar Argentina report. The sector has experienced steady growth, with the number of local fintechs increasing at a compound annual growth rate (CAGR) of 15.3% since 2020.
With the momentum of Argentina’s fintech sector expected to continue into 2025, we look today at some of the most promising fintech startups from the country. These startups are poised to make an impact in 2025, building on the achievements and growth seen in the previous year.
5 Fintech Startups from Argentina to Follow in 2025
Uala secures largest VC round of the past three years
Digital banking giant Uala secured an impressive US$300 million Series E funding round in November 2024, marking the largest VC investment in LatAm of the prior three years. The round, which valued the startup at US$2.75 billion post-money, was led by Allianz X, the growth investments arm of Allianz Group, one of the world’s leading insurers and asset managers.
This investment represents Allianz X’s first foray into the LatAm market, signaling confidence in Uala’s expansion plans. The proceeds will be used to broaden Uala’s financial ecosystem and fuel faster growth in its markets. The startup will also pursue insurtech opportunities, leveraging Allianz’s global expertise and resources to integrate insurance products into its financial ecosystem.
Founded in 2017, Uala is a leading digital bank with over eight million users across Argentina, Mexico and Colombia. The company provides services including debit and credit cards, payments, loans, investment products, and merchant acquiring solutions.
Uala’s growth strategy focuses on serving the underbanked by offering high-yield savings, guaranteed credit cards, and commission-free remittances. In Mexico, deposits have quintupled in 18 months due to a competitive 14% yield on savings accounts, attracting over 1.7 million customers, according to Finimize.
Pomelo records strong growth
2024 was a milestone year for Pomelo, a payment infrastructure startup. The company secured a Series B funding round, forged key partnerships, and achieved record-breaking transaction volumes, setting the stage for even stronger momentum in 2025.
In January, the startup closed a US$40 million round to fund its expansion in LatAm, especially in Mexico and Brazil, as well as the start of operations in Chile, CEO and co-founder Gaston Irigoyen told Fintech Nexus.
In October, it joined the World Economic Forum (WEF)’s Global Innovators Community, an invitation-only group of the world’s most promising startups and scaleups. These companies, spanning sectors like fintech, AI, and biotech, collaborate with WEF leaders and policymakers to address global challenges and accelerate the adoption of transformative technologies.
Pomelo also strengthened its leadership team, welcoming Carlo Enrico, former president of Mastercard for LatAm and the Caribbean, as an independent member of its board and investor. Enrico played a fundamental role in signing strategic commercial agreements with regional fintech giants like Nubank, Mercado Pago and Uala, bringing valuable expertise to Pomelo’s next phase of growth.
Additionally, Pomelo partnered with major regional issuers and traditional financial firms, including Stori in Mexico, Nomad in Brazil, Match in Chile, and Bancolombia in Colombia, Bloomberg Linea reported.
In 2024, Pomelo doubled its revenue, while transaction volumes increased eightfold YoY, Irigoyen told the media outline.
Founded in 2021, Pomelo offers payment infrastructure capabilities to startups and financial services companies seeking to launch online accounts, credit cards, or debit cards. The company claims 125 clients and operates in six LatAm markets. Since its launch, the startup has raised US$103 million.
Tapi expands to Mexico
Payment processor Tapi announced in July 2024 plans to expand its operational footprint in Mexico. The move followed the closing of a US$22 million Series A spearheaded by prominent VC firms Kaszek and Andreessen Horowitz, Bloomberg reported.
CEO and co-founder Tomas Mindlin expects Mexico to become Tapi’s fastest growing market in the next two years. He projects US$400 million in processed payments for 2024, a fourfold increase from 2023.
Founded in 2022, Tapi aims to revolutionize the payment experience in LatAm. The company’s technology is designed to handle payments for large consumer platforms across the region, such as Mercado Pago and cryptocurrency exchange Lemon. This infrastructure allows fintech startups to serve customers across several countries, each with its own banking system and regulations.
Currently, Tapi works with 25 clients and has partnerships with major financial platforms like Uala, Stori, and Yape, fueling its expansion.
Belo expands its capabilities
Belo, a digital wallet for freelancers and remote workers, announced in June 2024 a new feature that enables users to receive ACH transfers directly into their wallets. ACH transfers are electronic money transfers between bank accounts in the US.
This new feature aims to simplify cross-border payments, particularly for Latin American professionals earning income from the US. It also offers a more cost-effective alternative to traditional payment platforms by cutting out middlemen.
Initially available to users in 17 countries, including Argentina, Bolivia, Brazil, Chile, Colombia, Mexico, Panama, Peru and Uruguay, Belo plans to extend ACH transfers to business accounts, enabling companies to pay salaries directly.
Founded in 2020, Belo operates as a digital wallet for LatAm freelancers and remote workers. The platform allows individuals to collect income globally, and for businesses to manage salary payments, access stable currencies, and conduct international transfers.
Belo’s growth strategy focuses on organic growth by creating a product that effectively solves real problems, which naturally encourages word-of-mouth adoption, CEO and co-founder Manuel Beaudroit told Contxto in June 2024. It also places a strong emphasis on efficiency, ensuring that its operations remain cost-effective while continuing to provide value to its users. The company reached profitability in 2023.
Looking ahead, Belo aims to strengthen its presence in Brazil and Mexico, while expanding into other markets in the region. It will also continue to enhance its product offerings to meet the evolving financial needs of remote workers.
Findo’s impact on financial inclusion
In just a few years, Findo, an alternative scoring startup, has already made a significant impact, providing financial access to over 200,000 individuals, including 25,000 migrants in Argentina who gained access to credit cards through a partnership with Naranja X, Diego Varela, CEO and co-founder of Findo, told Forbes Argentina in November 2024.
Findo has operations in Argentina, Paraguay, and Bolivia, having established strategic partnerships with organizations such as Prester and Pro Mujer. The startup is now looking to expand into markets such as Chile, Peru, Ecuador and Colombia.
In addition to its growth, Findo also received strategic financing from the IDB Lab for US$500,000 for its expansion in Paraguay, and was recognized in December 2023 as one of the winners of the CAF Financial Inclusion Lab.
Founded in 2017, Findo focuses on providing financial inclusion for people who have no credit history, such as informal workers, migrants, and those from underbanked segments. The company leverages artificial intelligence (AI) and alternative data sources, such as social media activity, smartphone usage, and contact networks, to predict credit risks. It uses over 170 parameters and 1,000 data points to assess creditworthiness, and it claims to deliver better results compared to traditional credit bureaus.
Findo’s technology is particularly relevant in regions where a large portion of the population remains unbanked or has limited access to formal financial services.
Featured image credit: edited from freepik
