Manu Ginobili, businessman: what is the Argentine unicorn that added the basketball idol as one of his investors

One of the best athletes in Argentine history, Emanuel Ginobili will join Ualá as an investor, the Argentine fintech that provides financial services to Latin America and which recently became the tenth company in the country to become a “unicorn”, a name given to technology companies whose market value exceeds USD 1,000 million.

Ualá did not provide details on the amount of its investment, although it is discounted that given its popularity worldwide, in the future Ginobili could be part of the company’s marketing actions.

“I closely follow the growth of Ualá and I am excited to join as an investor in a company that is committed to financial inclusion in Argentina and now also in Mexico. I share the mission and commitment, convinced that I will be able to add value to continue working for inclusion and financial education”Ginobili pointed out.

According to Ualá, the athlete is a “lover of new technologies” who has “a particular interest in joining high-impact innovative ventures. In that sense, the exponential growth of Ualá added to its purpose of expanding access to financial services have caught his attention ”.

Ginobili left the professional activity in the NBA in March 2019 “with the conviction that he would continue to be part of great teams motivated by causes with social impact,” added the Ualá statement. In the most important basketball league globally, he participated in 16 seasons in which he won 4 championships.

“It is a great honor for our entire team to have the support of Manu. For us he is more than an investor; He has always been a benchmark: for his commitment to excellence, teamwork and his incredible professional career. Personally, it is a great pride to learn from him, ”he said. Pierpaolo Barbieri, founder and CEO of Ualá.

On its official Twitter account, the company noted: “We are happy to be able to tell you that from today @manuginobili joins as a new investor in Ualá. It is a pride that one of the best athletes in history and a benchmark supports us in our mission to continue working for financial inclusion. Welcome!”

Almost four years after its launch, Ualá already has more than 1,000 employees and issued nearly 3.5 million prepaid Mastercard cards in Argentina and Mexico, where it has operated since last year.

Ualá announced on August 13 the realization of an investment round that received USD 350 million and reached a capitalization of USD 2.45 billion. The round was by SoftBank Latin America Fund, the regional technology fund, and telecommunications giant Tencent, which owns WeChat, the equivalent of WhatsApp in China. One of its original investors was tycoon George Soros. In April of this year it took another important step and closed a strategic alliance with Wilobank, the digital bank of Corporación América, an operation that is still pending the approval of the Central Bank.

Almost four years after its launch, Ualá already has more than 1,000 employees and issued nearly 3.5 million prepaid Mastercard cards in Argentina and Mexico, where it has operated since last year. “The support of Manu Ginobili along with other great investors who have trusted Ualá since its birth confirms its growth potential and the strength of its work team,” they said in Ualá.

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