Billionaire-Backed Argentine Fintech Ualá Launches in Mexico (1)

Argentina’s Ualá, the mobile payments startup backed by heavyweight billionaire investors George Soros and Steve Cohen, is launching its prepaid card operations in Mexico.

Three years after kicking off operations in its home country, the company is expanding into Latin America’s second-largest economy at a time when the coronavirus pandemic is boosting online transactions globally, said Ualá’s founder and chief executive officer, Pierpaolo Barbieri. After working “quietly and secretly” to set up operations over the past 18 months, over 20% of the company’s more than 500 employees are fully dedicated to launching its Mexico operations Tuesday.

Both Argentina ...