Total amount raised
$4.2 Billions
Latest funding date
Location
Title
Nubank has successfully raised significant capital through multiple funding rounds, attracting a diverse group of investors.
Keep reading to explore the intricacies of Nubank's fundraising journey and the investors backing this innovative financial technology company.
What Is Nubank?
Nubank, founded in 2013, is a digital bank headquartered in São Paulo, Brazil. The company was established by Cristina Junqueira, David Vélez, and Edward Wible.
Offering a range of financial services, Nubank provides credit cards, personal loans, and digital payments through a user-friendly mobile app. The company is known for its customer-centric approach and low fees.
With a workforce of 5001-10000 employees, Nubank continues to innovate in the financial technology sector, aiming to empower users with better financial management solutions.
How Much Funding Has Nubank Raised?
- Amount Raised: $80M
- Date: Dec 6, 2016
- Lead Investors: DST Global
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product offerings.
- Amount Raised: R$455M
- Date: Aug 17, 2017
- Lead Investors: Fortress Investment Group, Goldman Sachs
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth and expand credit offerings.
- Amount Raised: $150M
- Date: Mar 1, 2018
- Lead Investors: DST Global
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fuel international expansion and product development.
- Amount Raised: $180M
- Date: Oct 8, 2018
- Lead Investors: Tencent
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technological infrastructure and customer service.
- Amount Raised: $400M
- Date: Jul 26, 2019
- Lead Investors: TCV
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and improve financial products.
- Amount Raised: $400M
- Date: Jan 28, 2021
- Lead Investors: GIC, Invesco, Whale Rock Capital Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and innovation in financial services.
- Amount Raised: $750M
- Date: Jun 8, 2021
- Lead Investors: Berkshire Hathaway, Sands Capital Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen market position and expand product offerings.
- Amount Raised: $1B
- Date: Feb 16, 2022
- Lead Investors: Berkshire Hathaway
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support strategic initiatives and international expansion.
- Amount Raised: $650M
- Date: Apr 11, 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance financial stability and support growth.
- Amount Raised: $265.1M
- Date: Jan 17, 2023
- Lead Investors: International Finance Corporation
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand operations and improve financial inclusion in Colombia.
Total Amount Raised: $4.625B. Current Valuation: Not publicly disclosed.
Key Investors
- International Finance Corporation
- Details: The International Finance Corporation (IFC) is a member of the World Bank Group and the largest global development institution focused on the private sector in emerging markets. It operates in more than 100 countries, aiming to reduce poverty and promote development.
- Investment Focus Areas: Economic development, private sector growth, financial inclusion.
- Notable Investments: Various investments in emerging markets across multiple sectors.
- Berkshire Hathaway
- Details: Berkshire Hathaway is a multinational conglomerate holding company led by Warren Buffett. It owns a diverse range of businesses and has significant investments in various industries.
- Investment Focus Areas: Insurance, utilities, manufacturing.
- Notable Investments: Apple, Coca-Cola, American Express.
- Tencent
- Details: Tencent is a Chinese multinational conglomerate holding company known for its various internet-related services and products. It is one of the world's largest technology companies.
- Investment Focus Areas: Social media, gaming, fintech.
- Notable Investments: Epic Games, Spotify, Tesla.
- GIC
- Details: GIC is a sovereign wealth fund established by the Government of Singapore to manage its foreign reserves. It is one of the largest global investors.
- Investment Focus Areas: Real estate, private equity, infrastructure.
- Notable Investments: Alibaba, Blackstone, UBS.
- Goldman Sachs
- Details: Goldman Sachs is a leading global investment banking, securities, and investment management firm. It provides a wide range of financial services to a substantial and diversified client base.
- Investment Focus Areas: Financial services, technology, healthcare.
- Notable Investments: Uber, Spotify, WeWork.
What's Next for Nubank?
Nubank's future looks promising as it continues to expand its operations in Colombia, backed by a $150 million loan from the International Finance Corporation. This funding will help Nubank increase access to financial services for underbanked populations, promoting greater competition in the Colombian financial sector. With over 400,000 credit cards issued in just ten months, the opportunity for growth is substantial.
As Nubank solidifies its presence in Colombia, it may attract further investments to support its rapid expansion. The focus on digital transformation and financial inclusion aligns with industry trends, positioning Nubank for potential future fundraising opportunities. However, challenges such as navigating regulatory environments and ensuring effective digital reach to women and minority groups remain.
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