Argentine FinTech raises $150mn from Tencent, Softbank

November 26, 2019 | FinTech
Written by FinTech Alliance
Argentine FinTech raises $150mn from Tencent, Softbank

Argentine FinTech Ualá has closed its Series C funding round at $150mn.

In Brief:

  • The round included Tencent and Softbank’s Latin Americafocused Innovation fund.

  • Ualá is a personal finance management app linked to a prepaid card.

  • Users can transfer money, invest, request loans, make payments and top up prepaid services.

What does this mean?

While the company offers similar services to challenger banks it has stated it will not look to become a bank. Nor will the bank use its new finance to expand abroad – the company wants to perfect its product and penetration in the Argentinian market first.

Read more here.

 

More in FinTech

Press Release: FinTech Alliance and Diversio partner to create a more inclusive FinTech ecosystem

Posted By The Community

FinTech
January 20, 2020

Press Release: FinTech Alliance and Diversio partner to create a more inclusive FinTech ecosystem

London, 21 January 2020, 9.00am – FinTech Alliance and Diversio announce their partnership to...

Written By: Diversio

FinTech in focus at UK-Africa Investment Summit
FinTech
January 20, 2020

FinTech in focus at UK-Africa Investment Summit

The Prime Minister is making the case for the UK to be an ‘investment partner of choice’...

Edinburgh FinTech brings global client on board
FinTech
January 20, 2020

Edinburgh FinTech brings global client on board

Scottish FinTech ShareIn has inked a deal with Shojin Property Partners. In Brief: Shar...

FinTech
January 09, 2020

Latin America: Global Investors’ New FinTech Frontier

Insights from Leading Banks, Venture Capital and Private Equity Investors

FinTech
January 09, 2020

What will the future of banking look like?

Big tech, fintech and increased regulation are putting pressure on banking incumbents. How can they...

FinTech
January 09, 2020

A Roadmap For FinTech Firms Entering Fast-Growing Emerging Marketing

Fintech firms are finding growth opportunities establishing a presence in emerging markets. This pap...

FinTech Retreat

FinTech Retreat

When: Jan 22nd, 2020
Where: Menlo Park, Menlo Park , GB
Price: £330
Paris FinTech Forum

Paris FinTech Forum

When: Jan 28th - Jan 29th, 2020
Where: Palais Brongniart, Paris , GB
Price: £1,300
UK FinTech Mission to Austria

UK FinTech Mission to Austria

When: Jan 29th, 2020
Where: Residence of the British Ambassador, Vienna , GB
Price: £660