ARQ has secured a $70 million funding round led by venture capital firms Founders Fund and Sequoia Capital. 

The Latin American financial app plans to rebrand and hire new talent using the capital, a Bloomberg article stated.

ARQ is a global financial services platform serving millions of customers across the Americas. The company delivers institutional-grade rates, global payments, investing, and card services designed for mass-affluent individuals, its website states.

On Monday, the company announced it was expanding its long-term platform and unveiling a new brand called ARQ.

"We are expanding beyond cross-border into investing, credit, and everyday spending. ARQ is the long-term platform we are building so you can spend globally with confidence, receive international payments seamlessly — but also invest across markets, and access premium credit products like our Prestige Credit Card," the company wrote.

"We are operating with long-term ambition and absolute conviction. If you are exceptional at what you do, this is a defining moment to join us."

The company announced that it plans to hire in New York, Buenos Aires, São Paulo, Krakow, Mexico City, Bogotá, and London.

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