Latin American neobank Ualá raises $195 million at $3.2 billion valuation

New and existing investors also participated in the round, including Stone Ridge Holdings Group, Tencent, Table Holdings, L.P., Soros Fund Management LLC and D1 Capital Partners. The investment values the company at $3.2 billion on a post-money basis.

The new capital will accelerate Ualá’s growth and expand its financial ecosystem across Latin America. Today, the company serves more than 11 million customers and operates with full banking licenses in all its markets. In Argentina, nearly one in five adults use Ualá’s platform. Mexico has emerged as a key growth engine, with active customers increasing by 7% month-over-month since the company obtained its banking licence.

Through a single mobile-first platform Ualá provides a fully digital bank experience including debit and credit cards, lending, investments, insurance, and merchant acquiring.

In 2024, Ualá closed its Series E funding round, which ultimately totaled $366 million, marking a strategic milestone in the company’s growth and establishing Allianz as a key long-term partner

This follow-on investment deepens the partnership between Allianz and Ualá. By combining Ualá’s regional scale with Allianz’s global insurance and investment expertise, the companies entered the insurtech space in Argentina in 2026 with the launch of fully digital Life and Personal Accident insurance products within the app, generating more than 300,000 quotes within weeks.

Nazim Cetin, CEO of Allianz X, says: “The next wave of financial services will be built around digital ecosystems that combine banking and protection. We are convinced the future of insurance will not be sold, it will be embedded into everyday financial journeys. Latin America offers a rare mix of scale, digital momentum, and significant underinsurance. And Ualá sits at the center of that shift."