Brazilian Challenger Bank Nubank Makes Push for IPO

Brazilian Challenger Bank Nubank Makes Push for IPO

Brazilian challenger bank Nubank has filed for its initial public offering (IPO) and is expected to go public in the U.S. by early 2022, according to Forbes.

Nubank had filed both with the Securities and Exchange Commission (SEC) in the U.S. and the Formulario de Referencia with the Comissão de Valores Mobiliários (CVM) in Brazil.

The IPO is expected to commence after the SEC and the CVM complete their respective review processes.

Nubank has secured a total of US$ 750 million during two extensions of its Series G funding round, raising the round to US$1.15 billion.

During the first extension, the neobank had managed to raise US$500 million led by billionaire Warren Buffett’s Berkshire Hathaway, one of the largest publicly-held companies in the world.

The second US$250 million Series G extension was led by Sands Capital raising its valuation to US$ 0 billion valuation, up from US$25 billion at the time of its previous fundraising round.


This article first appeared on Fintech News Switzerland

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