Ualá, an Argentina-based neobank operating in Latin America, has secured an additional US$66 million in its Series E funding round, bringing the total raised to US$366 million.

The initial close, led by Allianz X, took place in November 2024.

The second close included investment from TelevisaUnivision, a major Spanish-language media company.

The funding will support Ualá’s expansion in Mexico, Argentina, and Colombia, as well as further development of its digital financial services.

Founder and CEO, Pierpaolo Barbieri, stated,

“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. The future is inspiring. We will continue to develop world class financial products, increasing investment, and exploring new growth opportunities across Latin America.”

The Series E round was the largest growth equity fundraising in Latin America in the past three years.

Investors include 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.

J.P. Morgan acted as the sole placement agent for the second closing, with legal advisory provided by Hughes Hubbard & Reed LLP.

Founded seven years ago, Ualá serves over nine million users with financial products such as debit and credit cards, loans, investments, and merchant payment solutions.

Its proprietary AI-driven credit scoring system, UaláScore, aims to expand access to credit across the region.

Featured image credit: edited from freepik