Fintech company Ualá announced that it has secured $300mn in a Series E investment round, reaching a valuation of $2.75bn. The funding, led by Allianz X, marks the largest private financing round in Latin America over the past three years.

"This is a great dream come true. We operate in Argentina, Colombia and Mexico with more than 1,500 employees, trying to bring finance into the 21st century," said founder Pierpaolo Barbieri at a presentation attended by President Javier Milei.

The company, which has grown to over 8mn users since its founding seven years ago, plans to use its funding to accelerate growth in existing markets while exploring potential international expansion. The platform has facilitated more than 7mn loans and attracted over 2.7mn investors, according to company data.

"We hope not to need to raise capital ever again: the business in Argentina is self-sustaining, and this will allow us to continue growing from a solid position in Mexico and Colombia," Barbieri explained, noting that the capital inflow represents approximately 10% of the share capital.

These developments signal growing international confidence in Argentine fintech, particularly amid the country’s challenging economic climate. As Ualá eyes a potential US stock market listing, its success could pave the way for other Argentine companies seeking to expand regionally while attracting foreign investment, though much will depend on the stability of the broader economic environment under Milei's administration.