Nubank receives US$ 500 million from Warren Buffet’s fund – 06/08/2021 – Market

The digital bank Nubank announced this Tuesday (8) the extension of a round of investments in the order of US$ 750 million (R$ 3.787 billion). The main investment, of US$ 500 million (R$ 2.525 billion), comes from Berkshire Hathaway, a fund owned by American mega-investor Warren Buffett.

“New investors, such as Berkshire Hathaway, are helping us to accelerate our mission to cut bureaucracy for people in Latin America,” Nubank said in a statement. According to the institution, the new investments place fintech as “the most valuable digital bank in the world and one of the largest financial institutions in Latin America”.

The investments are part of the G Series, a round that started in January, with the raising of US$ 400 million (R$ 2.020 billion). The second investment announced today, of US$ 250 million (R$ 1.262 billion), comes from a group of funds that includes former investors. With the new contributions, the round now totals US$ 1.15 billion (R$ 5.806 billion) in investments.

“The series becomes the largest investment round ever carried out by a private technology company in Latin America”, says the bank. “We are very excited to announce these news, as with them we will be able to accelerate our international expansion even more”, says fintech, in a statement.

Nubank claims that, in the eight years since its foundation, it has become the world’s largest digital bank in terms of number of customers, which total 40 million. In the first five months of the year, it received more than 45,000 new customers a day.

Now, says fintech, the operation enters a new, more mature stage of development. There was an expansion of the credit card offer to a complete digital banking platform, with a portfolio that includes personal loans, investment products (funds from the platform itself or from the Easynvest digital brokerage, acquired in 2020), life insurance, products for micro-entrepreneurs in addition to instant payment services.

“Nubank concentrates about a quarter of all Pix transfers in the country”, he says.


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