4 FinTechs transforming the financial sector in Argentina

By Edlyn Cardoza

When you think about finance or FinTech, Argentina might not be the first city that comes to mind. But the reality is far different than what we may assume.

In the last few years, FinTech opportunities worldwide have increased exponentially. Right from digital banking and insurance to wealth management and lending, FinTech companies and FinTech startups are growing fast.

The number of players in the Argentinian FinTech ecosystem has doubled in the past two years. The FinTech activity in Argentina rises as the country adopts new financial services innovations.

Below are 4 FinTechs transforming the financial sector in Argentina:

• Afluenta

Afluenta is one of the first loan markets in Latin America that aims to promote human loans directly between applicants and investors so that those who have the money can support the initiatives of those who need it in exchange for a fairer and more transparent remuneration, achieving an economically superior alternative to that offered by banks.

• Moni

Moni is one of the leading FinTechs in the market in which you can: ask for loans, pay utility bills and make purchases immediately, without queues or procedures and 100% online. Founded in 2013, thinking about how to make this idea easy, fast, and comfortable for people. Today they have already granted more than 1 million loans.

• Ualá

Ualá is a FinTech that offers its users an innovative and integrated experience, including the unbanked population in the financial system, providing more convenient and lower-cost services than other alternatives. Users can make various financial transactions through a mobile app linked to an international Mastercard. This includes transferring money, paying bills, loading balance on prepaid mobile and transportation cards, and much more. Founded by Pierpaolo Barbieri, Ualá was launched in the Argentine market in October 2017 and in September 2020 in the Mexican market.

• Wenance

Wenance is the Argentinian FinTech leader focused on consumer lending. They are transforming people’s experience with their finances to give them the governance of their money through agile, efficient, and transparent processes. They create high-performing technologies that make easier financial experience of people. At the end of 2017, they started their operations in Uruguay and became the first FinTech company in Argentina to launch a public trust for personal loans portfolio for AR $100 million, rated AA by Standard and Poor’s.

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