Argentine Venture Capital Panorama 2026 (EY Swiss Fintech / Banking Barometer)

Summary

• Seed and venture capital investment in Argentina in 2025 totaled $270 million.p.6
• There were 73 transactions, meaning less capital than the previous year but more activity.p.6
• 75.7% of total capital invested was distributed across 9 rounds.p.6
• 52.1% of rounds were pre-seed.p.6
• 87.7% of transactions were in rounds under $5 million, but those rounds explain only 24.3% of the amount invested.p.8
• 52.8% of rounds were concentrated in the City of Buenos Aires and Buenos Aires province.p.6

Key insights

1. The 2024 recovery was largely explained by Ualá's $300 million round.p.7
2. The 9 largest rounds of 2025 totaled $204.3 million, representing 75.7% of the amount invested.p.13
3. Ualá raised $66 million in 2025 as an extension of its $300 million round.p.13
4. Lemon, a crypto wallet that leads the retail crypto market in Argentina and Peru, has 5 million users and raised $20 million.p.14
5. Remitee raised $20 million and its infrastructure is used by more than 40 financial institutions and fintechs worldwide.p.14
6. 12.5% of the invested startups have a woman CEO.p.6
7. 47.2% of startups that received seed or venture capital are distributed across nine provinces outside Buenos Aires.p.10
8. Two Argentine-founded startups raised capital abroad that is not counted in domestic investment: Aleph raised $29 million and Vercel $300 million.p.6