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Ualá, an Argentinian mobile banking startup, has raised $34 million in a new round of funding led by Goldman Sachs’s venture unit, along with investors including billionaire George Soros’ family office and Point 72 Venture, the early-stage VC firm funded by Steve Cohen.
The company – which offers a financial management app and a fee-free prepaid MasterCard – aims to disrupt the traditional retail banking infrastructure, according to Pierpaolo Barbieri, founder and CEO of Ualá.

Goldman Sachs’ venture unit is leading a new round of investment in an Argentinian fintech company backed by billionaire investors George Soros and Steven Cohen.

Ualá, the one-year-old mobile banking startup, raised $34 million in its series B round led by Goldman Sachs Investment Partners, along with existing investors including a private fund managed by Soros Fund Management, Jefferies, the venture arm of Steve Cohen’s Point 72, and entrepreneur Kevin Ryan, according to an announcement seen by Business Insider.

Goldman Sachs provided over half of the capital, according to Pierpaolo Barbieri, founder and CEO of Ualá.

The Buenos Aires-based startup offers a personal financial management app that is linked to a prepaid Mastercard, which doesn’t charge opening fees, transaction fees, and renewal fees. In the span of one …read more

Source:: Businessinsider – Finance


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