Latin American fintech Ualá has raised an additional $66 million in a second close of its Series E funding round, bringing the total to $366 million.
This extension saw participation from TelevisaUnivision, alongside earlier investors like Allianz X, Stone Ridge Holdings Group, Pershing Square Foundation, and billionaire Alan Howard.
Valued at $2.75 billion from the first close in November, Ualá plans to deploy the capital to fuel growth across Latin America, with a focus on Mexico.
This move underscores the company’s aim to deepen its footprint in a region ready for financial digitization.
Founded in 2017 by CEO Pierpaolo Barbieri in Argentina, Ualá started with a debit card offering but has since evolved into a multifaceted fintech firm.
Today, it serves 9 million clients—6.5 million in Argentina alone—with a portfolio spanning payments, credit, merchant acquiring, and investment products tailored to each market.
The latest funding, spurred by “overwhelming investor demand,” as Barbieri noted in an interview, will accelerate expansion in Mexico while reinforcing its ecosystem in Argentina.
Mexico, a key growth target, stands to benefit from Ualá’s partnership with TelevisaUnivision, whose influence could build trust among Mexicans unfamiliar with the brand.
Ualá’s growth trajectory extends beyond Mexico and Argentina.
In Colombia, its third market, the company reports a 15% month-over-month increase, signaling strong demand for its services.
Barbieri hinted at further initiatives, not ruling out new market entries or mergers and acquisitions across Latin America.
However, he emphasized a strategic focus outside Brazil, where digital finance competition is already fierce.
This $66 million capital injection reflects investor confidence in Ualá’s vision and execution.
Since its inception, the fintech has capitalized on Latin America’s low banking penetration and appetite for accessible financial tools.
The Series E extension not only strengthens its war chest but also positions it to compete with regional heavyweights.
As Ualá doubles down on Mexico and eyes further business expansion, it’s clear the company is betting big on a continent where financial inclusion remains a pressing need—and a key opportunity.
With TelevisaUnivision’s backing and a high-potential growth model, Ualá could help transform Latin America’s fintech landscape.
