DolarApp Rebrands as ARQ After Securing US$70 M From Sequoia and Founders Fund

DolarApp, the global financial services platform launched in Mexico three years ago, has announced its rebrand to ARQ, marking a strategic shift toward becoming a comprehensive financial platform that integrates investing, spending, and credit services. The company reaches this milestone after surpassing 2 million users and securing US$70 million in backing from investors including Sequoia Capital, Founders Fund, and Kaszek.

From cross-border payments to everyday finance

The transformation reflects the company’s evolution from a service primarily focused on cross-border financial transactions into a broader ecosystem designed for everyday financial management.

In Mexico, ARQ now brings together multiple financial capabilities within a single platform. These include buying and managing digital dollars and euros, sending and receiving payments from the United States, Europe, and other markets, international cards for travel and online purchases, direct investment tools, and a credit offering that features the new Prestige metal credit card.

According to the company, the change in identity also reflects the platform’s expanded vision.

“Our previous name had become limiting,” said Fernando Terrés, co-founder and CEO. “We help users spend internationally with fair exchange rates and receive payments from abroad as easily as with a local account. But we are building much more than cross-border finance. With ARQ, we are expanding into everyday financial services, including investments and our Prestige credit card designed for global clients.”

Stablecoins and the shift in financial infrastructure

The platform’s evolution comes amid broader changes in the global financial system. Over the past decade, fintech companies such as Nubank and Mercado Pago became the first financial product for millions of unbanked consumers across Mexico and Latin America.

However, affluent professionals and globally mobile users have continued to rely heavily on traditional banking services. This dynamic began to shift with the growing adoption of stablecoins, which provide a faster and more efficient infrastructure for international financial activity.

ARQ emerged during this transition and quickly positioned itself as a financial platform used by affluent consumers across the region.

In its most recent annual report, Stripe, a global leader in payments infrastructure, highlighted DolarApp, now ARQ, as one of the key partners in the stablecoin ecosystem, citing the company as an example of scalable real-world use cases for this technology.

Leadership with global fintech experience

ARQ was founded by Fernando Terrés (CEO), Zach Garman (CPO), and Álvaro Correa (COO). Before launching the company, the three entrepreneurs were part of the executive team at Revolut, where they worked on products related to remittances, premium financial services, and cryptocurrency.

The platform launched in Mexico in 2022, later expanding to Colombia and Argentina, and most recently entering Brazil.

“We have grown quickly by building products centered on the needs of affluent consumers,” said Álvaro Correa. “Reaching 2 million users is an important milestone, but we believe it is only the beginning.”

Growth driven by Mexico’s global financial connections

The company reports steady growth and adoption in Mexico since its launch. Its value proposition resonates strongly in a country with deep economic ties to the United States and increasingly global financial behaviors.

This dynamic is reflected not only in international payments but also in cross-border consumption patterns, including frequent travel and international e-commerce.

The United States–Mexico corridor is currently the largest remittance corridor in the world, estimated at US$64 billion, further reinforcing the relevance of financial services designed for cross-border use.

Building a long-term financial platform across the Americas

Looking ahead, the company plans to continue developing ARQ as a long-term financial platform tailored to affluent consumers across the Americas.

“ARQ is the long-term platform we are building for globally minded users,” said Zach Garman. “Our goal is to provide a solution that allows them to manage everyday finances, operate with global currencies, invest internationally, and spend anywhere in the world with confidence.”

The company currently employs more than 100 people working across offices in New York, Buenos Aires, São Paulo, Kraków, Mexico City, Bogotá, and London.