Uber doubles Argentina bet to $1B, relaunching Eats
Uber is injecting another $500 million into Argentina, bringing its total commitment to $1 billion in a high-profile endorsement of President Javier Milei’s economic reforms that includes the return of its food delivery arm.
Uber announced on July 17, 2026, an additional $500 million investment in Argentina, doubling its total three-year commitment to $1 billion. The capital injection follows a March 2025 pledge of $500 million, locking in a billion-dollar spending plan extending through 2029. Executives from the San Francisco-based company confirmed the funding after meeting with Economy Minister Luis Caputo.
The deployment of capital at this scale serves as a tangible benchmark for foreign investors assessing Argentina's macroeconomic stabilization. Historically prone to volatility, the country is attempting to reset its economic trajectory. Uber classifies Argentina as one of its fastest-growing markets globally, directly tying the fresh funding to confidence in the deregulation and pro-market agenda of President Javier Milei. Caputo characterized the meeting as "excellent," stating on social media that the investment arrives alongside "confidence in the economic course delineated by our president."
A significant portion of the new capital will finance the relaunch of Uber Eats, a service that abruptly exited the country in 2020. The re-entry focuses on food and supermarket delivery with a specific emphasis on last-mile logistics infrastructure. This move builds on Uber's broader regional consolidation strategy, leveraging its recent acquisition of Delivery Hero’s PedidosYa assets in Latin America to better compete against entrenched local rivals.
Beyond the delivery relaunch, the company intends to merge its ride-hailing and delivery platforms into a single application. This integration relies heavily on expanding Uber One, the subscription bundle that pairs ride discounts with free delivery perks. The core ride-hailing business, which launched in Buenos Aires in 2016 and now covers more than 50 cities across all Argentine provinces, will also receive expansion funding.
The financial commitment underscores Uber's established operational footprint in the country, where it marks its 10th anniversary this year. The platform currently reports over 20 million users and more than 1 million individuals earning income as drivers or delivery partners. While the company did not specify exact job creation targets for the new tranche, the Uber Eats return is expected to generate a substantial wave of delivery-partner opportunities. This expansion taps into a labor market where flexible, platform-based income generation remains in high demand.
