George Soros invests on Ualá, a startup from Argentina

 

In a country where, according to the World Bank, over half of the population doesn’t hold a bank accound, Ualá is making a big difference in Argentina. The startup, founded by Pierpaolo Barbieri, aims at simplifying the process of operating financial services. His company promises to makes the ownership of a debit card, for example, an easy, bureaucracy free and no costly process.

Barbieri, the name behind Ualá, is a young entrepreneur who lived in the UK and US, where he studied at Cambridge and Harvard universities. He is the sort of businessperson who gathers two different characteristics: humanism and finance. Having studied history and business, he has also written a book about the Spanish civil war called La Sombra de Hitler (Hitler’s shadows).  For him, Ualá is a company that helps lots of people who were excluded from having a bank account until now. In other to have an Ualá account, to download an app on a mobile phone is the only thing that need to be done along with some simple identity verification.

Another name behind the enterprise is George Soros, a millionaire well known for supporting philanthropists and liberal causes at the same time. Soro was Barbieri’s first boss and is the main supporter and investor of this Argentinian fintech.

During the company’s launch, Barbieri has said that Ualá is the first business in Argentina to offer an internationally paid system, like Mastercard, completely free of cost. “Our app, which offers real time notifications on expending, is the most innovative in the market and we will be launching new features soon, that will change the way Argentinians are saving and using financial services,” concluded.

 

Photo from: http://www.uala.com.ar

 

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