Argentina’s Ualá Valued Near $1 Billion in New Financing Round
- Tencent led $150 million Series C funding round for Ualá
- SoftBank also participated in first investment in Argentina
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Argentina’s mobile payments startup Ualá was valued at nearly $1 billion in the latest financing round that was led by Chinese internet giant Tencent, according to people with direct knowledge of the transaction.
Tencent increased its bet on Ualá, leading a $150 million Series C funding round where it was joined by Japanese conglomerate SoftBank Group Corp and others. The Buenos Aires-based firm was valued at between $850 million and $950 million, said the people, who requested anonymity because the details are private.