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Argentinian PFM fintech Ualá raises $150 million - Business Insider - Business Insider

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Argentinian personal finance management fintech Ualá has raised $150 million led by Tencent and Softbank's Latin America-focused Innovation Fund:

in the country have a smartphone, which likely makes the prepaid card option an attractive alternative for the financially underserved population.

It has also launched an investment account and a loan product as it aims to bring all financial services into one app. Ualá aims to build the leading marketplace for financial services in the region, according to founder Pierpaolo Barbieri cited by Business Insider.

Having big backers like Tencent and Softbank boosts Ualá's future chances of success, but it should also focus on FI partnerships going forward. Both companies will take seats on Ualá's board and can help advise the fintech's future strategy.

 

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