Latin American fintech ARQ, previously DolarApp, has secured $70 million in funding from Sequoia Capital and Founders Fund. The round, announced around March 3, 2026, supports the company’s rebranding and operational expansion.
Company Operations
ARQ provides digital financial tools including multi-currency accounts, digital wallets, currency exchange, and debit cards for cross-border money management. The platform operates in countries such as Mexico, Brazil, Argentina, and Colombia, where users can fund accounts via local methods like Pix or CLABE. It connects traditional banking rails to stablecoin systems, allowing holds and transactions in foreign currencies amid regional economic volatility.
Investor Details
Sequoia Capital and Founders Fund participated in this equity raise, with additional involvement from Kaszek Ventures noted in some reports. Both firms have prior exposure to Latin American fintech, including early investments in Brazil’s Nubank, now a major digital bank. Sequoia focuses on growth-stage tech, while Founders Fund, co-founded by Peter Thiel, targets disruptive fintech and crypto-related ventures.
Planned Fund Allocation
Proceeds will cover rebranding efforts, new employee hires, and service extensions beyond U.S. dollar transfers. ARQ’s CEO Fernando Terrés stated intentions to add wealth management options, high-yield local currency accounts, and expanded credit via its Prestige card. These steps aim to broaden user financial relationships in the region.
ARQ Funding History
ARQ, formerly known as DolarApp, has raised capital across multiple rounds to support its growth in Latin American digital finance.
- Latest round: $70 million on March 3, 2026, with participation from Sequoia Capital, Founders Fund, and Kaszek.
- Earlier round: $5 million on September 13, 2022, backed by Y Combinator.
Regional Market Trends
Latin American startup funding reached $6.2 billion in 2025, up from prior years but below the 2022 peak of $9.4 billion. Stablecoin usage has grown in the region due to inflation and limited banking access, with ARQ reporting over 2 million customers and more than $10 billion in annualized transaction volume. Comparable deals include recent fintech raises targeting cross-border payments amid recovering venture activity. Recent fintech and crypto investment activity also reflects broader institutional confidence, with developments such as Hash Global Secures $100 Million seen among web3 fundraising updates that signal continued capital deployment into digital asset funds and infrastructure platforms.
Forward Outlook
ARQ plans to leverage the capital for product diversification while navigating regulatory scrutiny on stablecoins in Latin America. With investors once again backing fintech and crypto infrastructure plays, as seen in announcements like Akave Announces $6.65M, the regional ecosystem appears positioned for steady and selective growth.
