Brazil’s Nubank has secured a $180m investment from Philippine firm Tencent. The challenger bank's valuation now stands at $4bn, following the $150m it raised in a DST Global Investment Partners-led funding round in April. With equity capital of $330m, it also secured a $137m credit line from Goldman Sachs in 2017. In January, Nubank received regulatory permission to operate as bank. It now has five million credit card holders and, in the last six months, signed up 1.5 million customers to its digital savings account, NuConta.
Brazil’s Nubank has secured a $180m investment from Chinese firm Tencent. The challenger bank's valuation now stands at $4bn, following the $150m it raised in a DST Global Investment Partners-led funding round in April. With equity capital of $330m, it also secured a $137m credit line from Goldman Sachs in 2017. In January, Nubank received regulatory permission to operate as bank. It now has five million credit card holders and, in the last six months, signed up 1.5 million customers to its digital savings account, NuConta.