I would like to decide what is a better investment Uala (Argentinian mobile bank -- https://www.uala.com.ar/) or Mitto (Spanish

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Uala & Mitto


The value proposition for Uala is that it makes cashless transactions in Argentina easily and quickly available, has a simple design, it is a free service, and a prepaid MasterCard is available. On the other hand, the main value proposition for Mitto is that it is a prepaid card for youngsters aged 14 years and above, and allows instant money deposit from parents through the money app. Mitto's pros include providing a functional parental control system, while pros for Uala include providing mobile transactions without the need for paperwork.

Methodology

In order to give you comprehensive information, we searched for precompiled information on the two companies on their websites and reputable financial, business and company analysis websites, specific to companies in Spain first and then to companies in general, such as Infoempresea, Ine.es, BVD Info, Datumize, The Bubble, Alexa, Similarweb, Business Insider, Forbes, and Market Research.

This described the company satisfactorily but we needed distinct information on the pros and cons which could only be gotten after using the product. Therefore, we carefully went through the reviews on the company forum and blog to extract the necessary information. As for the information on Mitto, try as hard as we did, the only available forms of the requested information were on completely different brands with the same and similar names. We decided to find out if the company was new which led us to a better understanding. In fact, due to the newness of the company, most company analysis platforms don't have any records for the company.
Then we looked for information on Mitto investors and funding methods. We intended to find possible statements made by any investor on the viability of the Mitto’s market. We searched through the websites mentioned above and others. We were unable to locate any of the investors in question.
We switched to searching for reputable blogs like the companies’ blogs and forums. With this search, we were able to triangulate the cons of Uala from reviews and complaints.

MAIN VALUE PROPOSITION

For the main value proposition, the differentiating factor is that Uala solves a great need of making cashless transactions in Argentina available, and doing this quickly. Another value proposition for Uala is the simplicity of design, free service, and the availability of a prepaid MasterCard. On the other hand, the main value proposition for Mitto is that it is a prepaid card for youngsters aged 14 years and above, and allows instant money deposit from parents through the money app.

PROS

For Uala, the pros are that it provides mobile transactions without the need for paperwork, the Uala app and service works worldwide, and it provides payment for many purchases in pesos with a fair commission deduction. For Mitto, the pros are that it provides a functional parental control system, there are security guarantees for MasterCard and Banco Sabadell, and the mobile app makes online and physical transactions possible.

CONS

Some cons for Uala are reports of several instances of cheating and fraud, several complaints of issues in receiving the UALA card, and wrong money transfers not being refunded on time. Some cons for Mitto that we found are a lack of cash dispensing at ATMs, customers not being able to carry out direct debits, and Mitto not permitting transfers.

Markets and expansion

Uala serves the fintech market in Argentina that needs digital banking. The company is also looking for expansion to similarly sized markets that are close to Argentina. Uala is currently working on creating more models to adapt the product to other countries. Our research did not find any information on markets and possible international expansion for Mitto.

Investment potential

According to the CEO, Pierpaolo Barbieri, due to the positive horizon growth of the country's economy and the number of smartphones, Uala has attracted several international investors. Some of its investors are Son Soros, the founder of Business Insider Kelvin Ryan, Mongo, and Jefferies. Our research did not find any expert opinions or economic factors related to whether Mitto would make a good long term investment.
Sources
Sources

Quotes
  • "Pierpaolo Barbieri: The idea behind Ualá was to bring further inclusion into the financial system in Argentina, and that required us to build our own technologies and processes because it had never been done before."
  • "As you know, in Argentina everything is done in cash, and we were able to reduce the pain of always having to carry bills, and all our features are helping people which I think explains the interest in the platform and our success."
  • "For Ualá itself, for now it is only Argentina, but it will be regional in the future. In Asia, it is often ten to fifteen times more developed and they have more transactions than in the US, so we are looking at the different models to adapt and to create our products, but it is for now just for Argentina and the region."
Quotes
  • "Optimistic horizon growth of the country's economy and the number of smartphones attracted international investors"
Quotes
  • "Redesign with digital only bank The beauty of the Ualá product lies in its simple design and services, across its mobile app and associated prepaid Mastercard. And it's free. "
  • "What differentiates Ualá from most other neobanks is the level of need it is addressing, and the urgency with which it is addressing this need."
  • "He and his team are looking at additional markets with similar sizes and with close proximity to Argentina. 5 "
Quotes
  • "Mitto is a prepaid card for young people from 14 years old. Through the app, parents link a bank card, send money and their children receive it instantly."