Hughes Hubbard Advises Ualá on $300 Million Series E Fundraising Round

November 2024 – The firm represented Ualá, the Latin American neobank founded in Argentina, in its $300 million Series E preferred stock fundraising round at a post-money valuation of $2.75 billion.

The Series E round was led by Allianz X, the venture capital arm of Germany’s insurance giant Allianz SE, making its first Latin American investment. New and existing investors also participated, including Stone Ridge Holdings Group, Tencent, Pershing Square Foundation, Ribbit Capital, Alan Howard, Goldman Sachs Asset Management, Soros Fund Management LLC, Rodina, SoftBank Latin America Fund, Jefferies, D1 Capital Partners, Claure Group, AlleyCorp and Monashees.

Bloomberg and Financial Times reported on the transaction.

Gerold Niggemann and Javad Husain led the Hughes Hubbard team, which included Patrick Hell, Jason Lee and Justin Cohen