Monday
July 29
2019

Fintech Decacorn Nubank Raises $400M Led by TCV

By Danny Crichton

Another day, another mega round for a fintech startup. And this one is mega-mega.

Brazil-based Nubank, which offers a suite of banking and financial services for Brazilian consumers, announced today that it has raised a $400 million Series F round of venture capital led by Woody Marshall of TCV. The growth-stage fund is best known for its investment in Netflix but has also made fintech a high priority, with over $1.5 billion in investments in the space. According to Nubank, the company has now raised $820 million across seven venture rounds.

Katie Roof and Peter Rudegeair of The Wall Street Journal reported this morning that the company secured a valuation above $10 billion, potentially making it one of a short list of startup decacorns. That’s up from the $4 billion valuation we wrote about back in October 2018.

Photo courtesy of Juanedc.

Source: TechCrunch (link opens in a new window)

Categories
Finance
Tags
digital finance, emerging markets, financial services, fintech, funding, startups, venture capital