Leading global law firm Baker McKenzie in Buenos Aires advised Goldman Sachs on its investment in Ualá, a personal financial management mobile app, electronic payment processor and issuer of MasterCard prepaid cards developed by Bancar Technologies Limited.

The investment by Goldman Sachs was executed by its participation as lead investor in the latest funding round of Bancar Technologies Limited, the sole shareholder of Bancar Tecnología S.A.U.

Gabriel Gόmez-Giglio, a partner at Baker McKenzie in Buenos Aires and head of the Banking and Finance group in Argentina and Latin America, said: "We are proud to have assisted our client, Goldman Sachs, in the largest fintech transaction to date in Argentina. This is the first deal of its kind in the Argentine fintech market and our role demonstrates Baker McKenzie’s ability to provide our clients with deep industry knowledge and excellent legal services in cross border financial transactions in the fintech industry.” 

Goldman Sachs was assisted by Baker McKenzie, which acted as local counsel performing the due diligence of Ualá and advising on the local transactional matters. The Baker McKenzie team consisted of partners Gabriel Gόmez-Giglio and Francisco Fernández-Rostello, as well as associates Cecilia Máspero, Geraldine Mirelman, Felipe Graham and Ayelén León.

Additionally, Goldman Sachs was advised by Gibson, Dunn & Crutcher LLP, which acted as international legal advisors. The Gibson, Dunn & Crutcher LLP team was formed by its partner Richard Birns and associates Drew McLelland, Eric Cohen, Meghan Hungate, Brenda Rivera and Ella Alves Capone.

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