Tencent was among the returning backers in a TCV-led series F round that came after discussions with SoftBank about leading a $1bn round fell through.
Brazil-based mobile financial services provider Nubank collected $400m in series F capital on Friday from a consortium led by growth equity firm TCV that featured internet company Tencent.
DST Global, Sequoia Capital, Dragoneer Investment Group, Ribbit Capital and Thrive Capital also took part in the round, which valued Nubank at more than $10bn according to the Wall Street Journal. The transaction remains subject to customary closing conditions.
Reports early last month suggested telecommunications conglomerate SoftBank was in talks to…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
