Berkshire Hathaway led a USD750m Series G extension for Nubank, with participation from Sands Capital, Verde Asset, Absoluto Partners, MSA Capital, CPPIB and Sunley House at a reported USD30b valuation. Nubank raised a USD400m Series G in a round led by GIC, Whale Rock and Invesco at a reported USD25b valuation earlier this year. Nubank’s reported valuation has more than tripled since TCV led a US$400m Series F in 2019 at a US$10b valuation.
(TechCrunch) – In 2013, Colombian businessman David Velez decided to reinvent the Brazilian banking system. He didn’t speak Portuguese, nor was he an engineer or a banker, but he did have the conviction that the system was broken and that he could fix it. And as a former Sequoia VC, he also had access to capital.
His gut instinct and market analysis were right. Today, Nubank announced a $750 million extension to its Series G (which rang in at $400 million this past January), bringing the round to a total of $1.15 billion and their valuation to $30 billion — $5 billion more than when we covered them in January.
Read more at TechCrunch.
