Neobank Ualá raises $195m at $3.2bn valuation [Yahoo! Finance]
TENCENT HLDGS UNSP/ADR (TCEHY)
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Source: Yahoo! Finance
Ualá, a digital banking platform operating in Argentina, has secured $195m in an equity funding round led by Allianz X, the investment division of Allianz Group. The funding round included participation from Stone Ridge Holdings Group, Tencent, TABLE Holdings, L.P., Soros Fund Management, and D1 Capital Partners. This new investment places Ualá's post-money valuation at $3.2bn. The company will use the funds to support its growth across Latin America. Ualá holds full banking licences in each of its markets and reports a customer base exceeding 11 million. The company offers a digital platform with services such as debit and credit cards, lending, investments, insurance, and merchant acquiring. The latest funding also builds on an existing partnership between Ualá and Allianz. The two companies have already launched digital life and personal accident insurance products in Argentina, generating over 300,000 quotes shortly after introduction. In Argentina, Ualá states th
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