The Argentine Unicorn wala celebrates its 5th anniversary by announcing an investment of 150 million dollars in the next 18 months. The capital will be used to continue expanding access to the financial system in Latin America, betting on regional expansion. Currently, the financial technology company (fintech) has more than 5 million users on Argentina, Mexico Y Colombia. They project to exceed 25 million users in the next 5 years.
“Ualá was born to revolutionize finances in the region, making them more modern, more transparent and more inclusive. Creating a regional company that employs more than 1,500 people with more than 5 million users in Latin America is a dream, and one that has just started,” he said. Pierpaolo Barbieri, founder and CEO of Ualá it’s a statement.
“We are grateful to each person and everything feedback, good and bad. Because our next 5 years will be much more ambitious. We will invest 150 million dollars in our markets with the conviction that it is possible to provide access to quality financial systems through technology”, announced the creator of the Argentine unicorn.
The company currently has more than 1,500 employees of 17 nationalities, who work from 10 different countries. Recently, it was recognized by various rankings, including that of Great Place to Work (GPTW)where he stood out both in Argentina and in Mexico.
Ualá expands in the Latin American FinTech ecosystem
This 2022, Ualá obtained a banking license in Argentina, buy 100% of the shares of wilobank, the first digital bank in the country. In Mexico, where it has been present since 2020, it is in the process of acquiring the bank ABCCapital, subject to approval by local regulators. Also this year, it began operations in Colombia, with a Financing Company license.
In its native Argentina, the fintech acquired two key companies in the last year. The first is Ceiba Creditswhich provides financing tools such as ‘buy now, pay later’ or BNPL, for its acronym in English (‘buy now, pay later’), at the point of sale.
The other is Undertake, an ecommerce platform that allows you to create your own online store quickly and easily. The latter was added to the collections vertical Ouala Bis in Argentina, whose volume “has been growing by 667% annually,” says the startup.
Since its launch, the platform has strengthened its offer of services to expand financial inclusion in the region with financing and investment options. In Argentina they have granted more than 2 million credits “between loans and quotas”, they point out.
At the same time, “more than 1.8 million users invest in the mutual fund available through the application, which is the second largest in number of people,” says the company.
In 2021 they presented Ualintec Capital, Liquidation and Comprehensive Compensation Agent (ALyC), so that users can buy MEP dollars and invest in Common Investment Funds and CEDEARs. And this 2022 they launched Uala Classrooma free virtual financial education platform with extensive educational content available to anyone, “whether or not they are Ualá users”.
Editorial Team The editorial team of EMPRENDEDOR.com, which for more than 27 years has worked to promote entrepreneurship.