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4
Sep

Nubank raises $300m in new funding round

Brazilian challenger bank Nubank has reportedly raised $300m in new funds, according to a filing with the U.S. Securities and Exchange Commission.

Reuters reported that five investors had participated in the raise, but that none of them were named.

While the filing had been made on June 19, the news about only surfaced after a Brazilian financial blog noted it.

TCV, Tencent Holdings, DST Global, Sequoia Capital, Dragoneer, Ribbit Capital, Kaszek and Thrive Capital are among the investors who have previously backed the venture.

The news comes after NuBank announced the it now had 26 million customers in June.

Nubank is not the only Brazilian neobank to have raised huge rounds of late.
In fact, its domestic rival Neon Pagamentos closed a $300m Series C round this week.

The investment was led by growth equity firm General Atlantic, with commitments also coming from accounts managed by BlackRock, Vulcan Capital, PayPal Ventures, Endeavor Catalyst and existing shareholders Monashees and Flourish Ventures.

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