Uala has just been valued at $3.2 billion — a pretty serious figure for an Argentine neobank. They raised $195 million in their latest round, and major investors such as Allianz, Tencent, and others are behind them. They already serve more than 11 million people in Argentina, Colombia, and Mexico.

Interestingly, Uala plans to expand across Latin America, especially in the insurance and investments segment. The founder says the region is clearly underinvested, but the demand for financial services there is enormous. With Allianz as a partner, they have already issued more than 300,000 insurance quotes in just a few weeks.

I remember that Uala previously offered crypto services in Argentina, but then shut them down due to local restrictions. But it looks like the Argentine Central Bank is working on a solution—maybe Uala will return to this space. What do you think, will this help them grow even more?