Softbank and Tencent backed the digital banking app provider in a series D round which will be use to boost its expansion in Argentina and Mexico, develop new products and scale up its team.
Ualá, an Argentina-based personal finance app developer, has collected $350m in a series D round co-led by telecommunications conglomerate Softbank and internet group Tencent, at a post-money valuation of $2.45bn.
The round also featured investment bank Goldman Sachs’s Asset Management division, Soros Fund Management, Ribbit Capital, Greyhound Capital, Monashees, D1 Capital Partners and 166 2nd. Softbank invested through its Latin America-focused vehicle SoftBank Innovation Fund.
New backers also contributed to the capital injection alongside angel investors, including Jacqueline Reses and…
