The digital bank pushed its valuation to $25bn in a Tencent-backed round that will support its growth in Latin America.
Brazil-based neobank Nubank raised $400m in series G funding yesterday, from a consortium that included internet group Tencent and which valued it at $25bn, TechCrunch reported.
Singaporean sovereign wealth fund GIC co-led the round with investment advisers Whale Rock and Invesco, while investment group Dragoneer and venture capital firms Ribbit Capital and Sequoia Capital also participated.
Nubank provides digital banking services including an online bank account, debit card, a lending practice and a loyalty points scheme to customers in Brazil,…
