Argentinean Fintech Ualá to Acquire Mexican Bank ABC Capital

Fazzaco learned that Ualá, the payment service provider headquartered in Argentina, will buy the Mexican bank - ABC Capital, in order to strengthen its presence in this country.

The acquisition strategy was formulated following Ualá’s 350 million dollars​ financing round, the largest private investment round for an Argentine company. With the deal, the fintech will be able to further enhance its business. It introduced its services to Mexico last year, and is intended to put investments of up to $150 million in the country over the next 18 months.

“Our commitment to financial inclusion in Mexico is absolute. We come to revolutionize the market with more technology, access and transparency," Pierpaolo Barbieri, CEO, Ualá, stated.

Established in 2017, Ualá offers a personal wealth management App and a prepaid Mastercard card for in-store, online, ATM transactions and international payments.