Argentina's fintech unicorn Uala will invest $150 million over the next 18 months to boost its digital banking business, mainly in Mexico and Colombia, its Chief Executive Pierpaolo Barbieri said in an interview with Reuters. The fast-growing firm, which has a valuation of some $2.5 billion, is aiming to expand its user base at least fivefold to 25-30 million people in the next five years, from five million users currently around in Latin America.
| less than a minute read
Argentine fintech Uala to invest $150 mln on Mexico, Colombia expansion, CEO says
"In a market context where others are cutting investment, we are expanding because we already have the capital," said Barbieri, adding the firm wanted to expand its financial offerings into debit cards, loans, investments, and insurance.
