Brazil’s Nubank is now worth $4 billion after Tencent’s $180 million investment

Thursday, October 11, 2018

By Jonathan Sheiber

Nubank, the Brazilian financial services company, has raised $180 million from the Chinese internet giant, Tencent.

Tencent has long been interested in financial services startups, and with its $90 million direct investment and another $90 million investment in the secondary market, the company now has access to what is arguably the largest digital banking company in the world.

With the $4 billion valuation, it also makes Nubank one of the most highly valued privately held startups in Latin America.

Photo courtesy of uditha wickramanayaka.

Source: TechCrunch (link opens in a new window)

fintech, startups