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”
„To be honest I think that Sinaia, your conference, is much better then Davos.”
Many more interesting quotes in the video below:
