Ualá, the Latin American digital bank founded in Argentina, said on 4 March 2026 that it had raised $197m in equity financing led by Allianz X, the strategic investment arm of the German insurer Allianz.
The deal values Ualá at $3.2bn on a post-money basis. Bloomberg, in a report republished by the Buenos Aires Times, put the size of the round at $195m, as did El Espectador; Ualá's own announcement gives $197m, and neither side explained the difference.
Stone Ridge Holdings Group, Tencent, TABLE Holdings, Soros Fund Management, D1 Capital Partners, Jubarte and Tether also took part. Ualá described the group as a mix of new and existing investors without saying which was which.
“We are building the most comprehensive and innovative banking platform in the region, and we are grateful for the continued trust of our investors. We are proud to deepen our partnership with Allianz X as well as existing and new investors. Latin America remains one of the most under-invested regions in the world, yet the demand for financial services is huge with an abundance of talent and ambition to match”Pierpaolo Barbieri, Founder and CEO, Ualá
What Ualá does
Ualá runs a mobile-only bank. Through one app it offers debit and credit cards, loans, investments, insurance and card acceptance for merchants. The company said it has more than 11 million customers and holds full banking licences in each of its markets.
According to the company, nearly one in five adults in Argentina has a Ualá account, more than 9.2 million loans have been granted on the platform and more than 3 million customers have invested through it. Mexico has become a main source of growth: Ualá said active customers there have risen by 7% a month since it obtained a banking licence. Bloomberg reported that the bank also operates in Colombia.
Pierpaolo Barbieri founded the company in 2017, according to Fintech Global and Bloomberg, and remains its chief executive.
The Allianz partnership
Ualá called the round a follow-on investment that builds on its relationship with Allianz. The two companies moved into insurance in Argentina in 2026, launching digital life and personal accident cover inside the Ualá app. Ualá said the products generated more than 300,000 quotes within weeks of launch.
For Allianz, the deal is part of a plan to widen its digital reach and its distribution channels in Latin America, which it treats as a priority region. Nazim Cetin, chief executive of Allianz X, said insurance would increasingly be built into everyday financial services rather than sold on its own.
Ualá said the money would speed up its growth, widen its range of financial services across Latin America and help it add new product lines.
The funding so far
The round follows a Series E that Ualá closed in 2024, which it said ultimately reached $366m and made Allianz a long-term partner. LatamList reported the first $300m of that round in November 2024, led by Allianz X at a $2.75bn valuation, with Stone Ridge, Tencent, Soros Fund Management and D1 Capital Partners among the participants. LatamList also reported a $350m Series D in 2021.
Earlier backers named by El Espectador include the SoftBank Latin America Fund, Bessemer Venture Partners, Point72, Goldman Sachs, Ribbit Capital and Monashees. Ualá did not disclose its total funding to date or its headcount.
"Latin America remains one of the most under-invested regions in the world, yet the demand for financial services is huge," Barbieri said in the announcement.
Company website: ua.la