There are cents aplenty as Tencent has invested $180 million in Brazil’s Nubank – taking the challenger’s valuation to a healthy $4 billion. News of the investment was first reported by The Information. Tencent scents action As FinTech Futures reported in June, Nubank has been making good progress. It got 1.5 million customers signed up for its digital savings account (“NuConta”) over the previous six months. This followed on from April, when it received $150 million in new funding in a round led by DST Global Investment Partners. In addition to its equity capital of $330 million, Nubank received a $137 million line of credit from Goldman Sachs last year. The company won regulatory approval to operate as a bank in January. At present, Nubank has got five million credit card holders. Having Tencent onboard is a welcome boost to Nubank’s new ambitions. The former, unsurprisingly, is usually up to something when it comes to investments. Last week, Telco PLDT, investment firm KKR and Tencent were part of a $175 million investment in Philippine digital tech company Voyager Innovations. Brazil has been getting some good attention when it comes to fintech matters. As reported in May, Morgan Stanley was following Goldman Sachs in lending to Brazil’s healthy fintech industry in search of higher yields. We also have a handy overview of neobanks in Latin America here.
Brazil ’s challenger has secured a $ 180 m investment from Chinese firm Tencent . The challenger bank 's valuation now stands at $ 4bn , following the $ 150 m it raised in a DST Global Capital Partners - led funding round in April . With equity capital of $ 330 m , it also secured a $ 137 million credit line from Goldman Sachs in 2017 . In 2018 , Nubank received regulatory permission to operate as challenger . It now has 10 million credit card holders and , in the last six months , adds up 1.5 million customers to its digital savings account , NuConta .