ARQ, Formerly DolarApp, Announces $70 Million Series C

Gunderson Dettmer represented ARQ, formerly known as DolarApp, in its $70 million Series C financing led by Sequoia Capital and Founders Fund.

ARQ offers digital financial services – such as multi-currency accounts, digital wallets, currency exchange, and debit cards – to help users in Latin America store and move money across borders. The new funding will be used to support a rebrand and fund new hires as ARQ looks to expand its services beyond dollar-denominated transfers.

In a Bloomberg article profiling the transaction, ARQ CEO Fernando Terrés said, “We want to grow at a larger pace and expand our relationship with our customers by offering more products like wealth management, high yield accounts in local currencies, and going deeper into credit through our Prestige credit card.”

The Gunderson deal team was led by Bradley Krack and included Federico Varni and Eduardo Espinosa de los Monteros Pereda.