Funding round
Ualá Series C
Ualá, which works in digital financial ecosystem services in Municipio de Formosa, raised $150M in a Series C round announced on 25 Nov 2019, led by Tencent, SoftBank Innovation Fund and SoftBank. 10 firms took part, 7 of them already investors. It is Ualá's third venture round on record; the one before was a Series B in Oct 2018.
$150M
Amount raised
Not disclosed
Post-money valuation
10
Investors
3 leads
Valuation
What this round says about the price
Ualá did not disclose a valuation in this round. It came 13 months after Ualá's Series B. It is 14% of the $1.04B Ualá has raised in the venture rounds on record. Ualá raised again 21 months later: a Series D round of $350M in Aug 2021, at $2.45B post-money.
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 1 Oct 2018, led by Goldman Sachs Investment Partners $34M
- Series C this round 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
Tencent, SoftBank Innovation Fund and SoftBank led the round with 7 other firms. Tencent, Goldman Sachs Investment Partners, Soros Fund Management LLC and Monashees and 3 more had backed Ualá before.
Lead investors
- Tencent existing investor
- SoftBank Innovation Fund new investor
- SoftBank existing investor
Also in the round
- Endeavor backs 236 venture-backed companies new investor
- Goldman Sachs Investment Partners existing investor
- Soros Fund Management LLC existing investor
- Monashees backs 73 venture-backed companies existing investor
- Ribbit backs 126 venture-backed companies existing investor
- backs 17 venture-backed companies existing investor
- backs 40 venture-backed companies new investor
Joined the board: James Mitchell (Tencent) and Shu Nyatta (SoftBank Innovation Fund).
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, sales and marketing, scaling operations, working capital and geographic expansion.
- Hiring
- Product development
- Sales and marketing
- Scaling operations
- Working capital
- Geographic expansion
Comparable rounds
How it compares
The closest in time, other companies' Series C rounds in Financial Services:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Financial Services | 10 Oct 2019 | $11M | not disclosed | not named |
| Financial Services | 23 Jan 2020 | $12M | not disclosed | not named |
| Petal Financial Services | 24 Sep 2020 | $55M | not disclosed | Valar Ventures |
| DriveWealth Financial Services | 27 Oct 2020 | $57M | not disclosed | Point72 Ventures |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Ualá raise in its Series C round?
Ualá raised $150M in its Series C round, announced in Nov 2019.
Who led Ualá's Series C round?
Tencent, SoftBank Innovation Fund and SoftBank led it, with Endeavor, Goldman Sachs Investment Partners, Soros Fund Management LLC, Monashees and Ribbit and 2 more.
What was Ualá's valuation at the Series C round?
It was not disclosed.
Did Ualá raise again after this round?
Yes: a Series D round in Aug 2021 of $350M at $2.45B post-money.