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Latin American Fintech ARQ Raises $70 Million Led by Sequoia and Founders Fund

ARQ, a Latin American financial app focused on stablecoin-based services, secured $70 million from investors including Sequoia Capital and Founders Fund to support rebranding, hiring, and expansion into wealth management, credit, and high-yield financial products.

Summary

ARQ, the Latin American fintech previously known as DolarApp and focused on stablecoin-based financial services, has raised $70 million in funding with participation from Sequoia Capital and Founders Fund. The company plans to use the capital for brand rebranding, expanding its workforce, and developing additional financial offerings including wealth management services, local high-yield accounts, and credit products. With more than two million customers and around $10 billion in annual transaction volume, ARQ aims to broaden its digital financial platform and strengthen its presence across Latin America’s fintech market.

Terms & Concepts
  • Stablecoins: Cryptocurrencies designed to maintain a stable value by being pegged to assets such as the U.S. dollar, commonly used for payments, savings, and cross-border transfers.
  • Wealth management: A financial service offering investment and advisory solutions to help individuals manage, grow, and protect their assets.
  • High-yield account: A financial account that offers higher interest rates than standard savings products, typically designed to attract deposits and increase returns for users.