Brazil’s Nubank is seeking a valuation in its planned U.S. initial public offering that would push the eight-year-old fintech past the $55.4 billion value of the country’s top traditional lender, according to Reuters.
In a recent funding round led by Warren Buffett’s Berkshire Hathaway Inc, Nubank was valued at $30 billion. With 40 million clients in Latin America, Nubank is the latest of several fast-growing financial services companies – often serving customers overlooked by banks – grabbing investors’ attention.
If Nubank is listed at a market cap greater than Itau Unibanco Holding SA’s $55.4 billion, it would vault into the ranks of the world’s largest fintechs, ahead of recently listed Robinhood Markets Inc, for example.
One source said that in recent weeks Nubank’s bankers have pitched a valuation of as much as $100 billion. But the source said the Brazilian fintech unicorn was unlikely to be valued so highly at the time it goes public.
According to a ranking by CBInsights, Nubank is the seventh most valuable unicorn worldwide, behind fintechs Stripe, Klarna and Revolut.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
