Within six years, Nubank reached the 12 million customer mark, becoming the sixth largest financial institution in Brazil in terms of customer numbers
August 06, 2019 | Chris Kapfer
- NuBank on its way to become the most powerful digital FI in South America and has outperformed some of the fastest growing digital banks in Europe and Asia, excluding China
- Since its founding in 2013, NuBank has accumulated $820 million raised in seven rounds of investment with the new injection of $400 million in investments in its latest F-Series
- The fintech company has already reached the 12-million customer mark, becoming the sixth largest financial institution in Brazil
Nubank, the leader in financial services technology in Latin America, announced 26 July that it has raised $400 million in investments in its F-Series, led by US investment firm TCV and GIV Private, the Singaporean sovereign wealth fund.
Tencent, DST Global, Sequoia Capital, Dragoneer, Ribbit Capital and Thrive Capital have participated in previous contributions. The last funding round was in October 2018, raising $180 million led by Tencent which acquired a 5% stake in the company.
With this new and to date, the largest injection of funds, Nubank has accumulated $820 million raised in seven rounds of investment since its founding in 2013. Nubank is reportedly valued at $10 billion, making it Latin America’s most valuable private tech company.
In 2014, the company launched its first product, a non-annual credit card that is entirely managed by a mobile app and has been requested by over 30 million people. Three years later, Nubank also launched its benefits program, Nubank Rewards and NuConta, a digital account. This year, the company began testing its personal lending service.
Within six years, Nubank reached the 12 million customer mark, becoming the sixth largest financial institution in Brazil in terms of customer numbers. Nubank took the first steps in its international expansion by opening offices ...
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