Ualá, the Latin American neobank, has raised $195m in equity financing led by Allianz X, the strategic investment arm of Allianz Group, valuing the company at $3.2bn on a post-money basis.
The round also saw participation from new and existing investors including Stone Ridge Holdings Group, Tencent, TABLE Holdings, L.P., Soros Fund Management LLC and D1 Capital Partners. The raise follows Ualá’s Series E funding round in 2024, which totalled $366m and established Allianz as a key long-term partner.
The fresh capital will be used to accelerate Ualá’s growth and expand its financial ecosystem across Latin America, where the company currently serves more than 11 million customers and holds full banking licences across all its markets.
Operating through a single mobile-first platform, Ualá provides a fully digital banking experience encompassing debit and credit cards, lending, investments, insurance and merchant acquiring.
The investment also deepens the existing partnership between Ualá and Allianz, supporting Allianz’s strategy to expand its digital footprint and diversify distribution across Latin America. Together, the two companies entered the InsurTech space in Argentina in 2026 with the launch of fully digital life and personal accident insurance products embedded within the Ualá app. The products generated more than 300,000 quotes within weeks of launch, offering simple, transparent and customisable coverage with instant issuance and fixed pricing.
In Argentina, nearly one in five adults use Ualá’s platform, it said. Mexico has also emerged as a key growth engine, with active customers increasing by 7% month-over-month since the company obtained its banking licence there. Both markets underscore the broader opportunity to expand access to modern financial services in economies with high smartphone penetration but low levels of financial inclusion.
Ualá founder and CEO Pierpaolo Barbieri said, “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.”
Allianz X CEO Dr. Nazim Cetin said, “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. For Allianz, this partnership is about more than capital; it is our deliberate move to integrate protection into the financial lives of hundreds of millions of people and shape the next generation of financial infrastructure.”
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