“Can a LATAM neobank built on prepaid wallets become a full-stack chartered bank serving the financially underserved across Argentina, Mexico, and Colombia?”
Founded in 2017 as a prepaid card and digital wallet for unbanked Argentines, Ualá rapidly expanded its product suite to include loans, investments, and savings. The 2022 acquisition of Wilobank transformed Ualá from a PSP into a chartered bank in Argentina, unlocking deposit-taking and SEDESA insurance. In parallel, Ualá pursued full banking licenses in Mexico (obtained as Institución de Banca Múltiple) and scaled to 11M+ users across three LATAM markets, becoming one of the region's largest digital financial conglomerates.