Argentine neobank Ualá launched a savings account following its banking license acquisition from Wilobank a year ago. This product joins the list of features now available on the Ualá app such as salary collection and retirement accounts.
“This allows us to be the most complete financial ecosystem in the entire country. We hope to reach profitability in Argentina by the end of the year,” said Pierpaolo Barberi, Ualá’s founder and CEO.
The Argentine fintech became a unicorn after receiving a series D investment round led by SoftBank Latin America Fund and Tencent in 2021. Currently, the company has over 5 million users and has operations in Argentina, Mexico and Colombia. The neobank has plans to reach 25 million users by 2028.
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