Funding round
Ualá Series B
Ualá, which works in digital financial ecosystem services in Municipio de Formosa, raised $34M in a Series B round announced on 1 Oct 2018, led by Goldman Sachs Investment Partners. 6 firms took part. It is Ualá's second venture round on record; the one before was a Series A in Feb 2018.
$34M
Amount raised
Not disclosed
Post-money valuation
6
Investors
1 lead
Valuation
What this round says about the price
Ualá did not disclose a valuation in this round. It came 8 months after Ualá's Series A. It is 3.3% of the $1.04B Ualá has raised in the venture rounds on record. Ualá raised again 13 months later: a Series C round of $150M in Nov 2019. Its next priced round, a Series D in Aug 2021, valued it at $2.45B.
Ualá's funding rounds
Ualá has 6 venture rounds on record. This one is highlighted.
- Series A 6 Feb 2018, led by Soros Fund Management LLC $10M
- Series B this round 1 Oct 2018, led by Goldman Sachs Investment Partners $34M
- Series C 25 Nov 2019, led by Tencent, SoftBank Innovation Fund and SoftBank $150M
- Series D 13 Aug 2021, led by SoftBank Latin America Fund and Tencent $350M$2.45B post-money
- Growth 31 Dec 2024 $300M$2.75B post-money
- Growth 4 Mar 2026, led by Allianz X $195M$3.20B post-money
Investors
Who put money in
Goldman Sachs Investment Partners led the round with 5 other firms.
Lead investor
- Goldman Sachs Investment Partners new investor
Also in the round
- Ribbit backs 126 venture-backed companies new investor
- Monashees backs 73 venture-backed companies new investor
- Soros’ family office new investor
- Point72 Ventures backs 72 venture-backed companies new investor
- backs 17 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
10 Series B rounds in Financial Services within a year either side disclosed an amount; the median was $23M, and this round was 1.5 times the median. The closest in time, other companies' Series B rounds in Financial Services:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| ProducePay Financial Services | 18 Oct 2018 | $14M | not disclosed | Anterra Capital |
| Financial Services | 4 Dec 2018 | $28M | not disclosed | not named |
| Financial Services | 20 Dec 2018 | $8.1M | not disclosed | not named |
| Petal Financial Services | 29 Jan 2019 | $30M | not disclosed | Valar Ventures |
| Financial Services | 6 Feb 2019 | $25M | not disclosed | Khosla Ventures |
| DriveWealth Financial Services | 3 Apr 2018 | $21M | not disclosed | Raptor Group and SBI Holdings |
| Financial Services | 15 May 2019 | $42M | not disclosed | Portage Ventures |
| DailyPay Financial Services | 15 Feb 2018 | $9.0M | not disclosed | Intercept Ventures |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Ualá raise in its Series B round?
Ualá raised $34M in its Series B round, announced in Oct 2018.
Who led Ualá's Series B round?
Goldman Sachs Investment Partners led it, with Ribbit, Monashees, Soros’ family office, Point72 Ventures and Jefferies.
What was Ualá's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Financial Services?
10 Series B rounds in Financial Services within a year either side disclosed an amount; the median was $23M, and this round was 1.5 times the median.
Did Ualá raise again after this round?
Yes: a Series C round in Nov 2019 of $150M.