DolarApp Rebrands As ARQ Secures $70 Million Investment From Sequoia Capital And Founders Fund

Latin American fintech DolarApp has raised $70 million in a funding round backed by Sequoia Capital, Founders Fund, and existing investor Kaszek Ventures. The investment supports the company's rebranding to ARQ and its expansion from dollar transfers into a broader financial platform that includes investments, credit, and global payments.

Summary of transaction details:

• Deal Type: Investment
• Transaction Amount: $70,000,000
• Company Name: ARQ
• Founders: Zach Garman, Alvaro Correa, Fernando Terrés
• Headquarters: Mexico City, Mexico
• Notable Investors: Sequoia Capital, Founders Fund, Kaszek Ventures
• Current Users: Over 2 million

ARQ was co-founded by Zach Garman, Alvaro Correa, and Fernando Terrés, who previously worked at Revolut and Y Combinator. The new capital will facilitate the company’s product expansion across Latin America and the rollout of features such as equity investing, local currency products, and premium credit services.