Digital banking service Nubank has raised $180m from Tencent at a $4bn valuation, increasing its overall equity funding to about $505m.
Internet group Tencent invested $180m in Nu Pagamentos, the Brazil-based operator of digital bank Nubank, yesterday at a valuation reported by The Information to be about $4bn.
The deal consists of $90m of new shares being issued to Tencent and $90m of secondary share purchases from existing shareholders, though Nubank did not reveal the identity of the sellers.
Founded in 2013, Nubank has created a no-charge credit card that has been requested by 20 million consumers and issued to some…
