Brazilian fintech enterprise Nubank has raised as a lot as $300m in fairness investments, Reuters reported citing a doc filed with the US Securities and Trade Fee (SEC).
5 new buyers participated within the funding spherical, in line with the doc.
Nonetheless, the startup didn’t reveal the names of the buyers.
The present buyers of the fintech agency embody TCV, Tencent Holdings, DST World, Sequoia Capital, Dragoneer, Ribbit Capital, Kaszek, and Thrive Capital.
The doc was reportedly filed in June 2020, nonetheless, the information was just lately reported by a Brazilian monetary weblog, Reuters mentioned.
Nubank didn’t affirm the main points of whether or not the contemporary fairness capital is a part of a brand new funding spherical. Nonetheless, sources described it as a “venture round”.
The fintech agency presents fee-free bank cards to its customers in Brazil. As of June, it had onboarded 26 million shoppers.
Nubank is the second largest bank card issuer within the nation, after Itau Unibanco Holding, the Reuters report added citing a be aware by UBS analysts.
Just lately, Nubank reported BRL95m in its first-half losses, down from a lack of BRL140m final 12 months as the corporate onboarded six million new shoppers final 12 months.
Moreover, within the first half, Nubank’s bank card transactions additionally surged 54%, whereas huge banks like Itau, Banco Bradesco and Santander had been impacted by the Covid-19 pandemic.