Since its inception in 2014, the Brazilian fintech business Nubank has developed banking solutions for communities that previously could not or did not have access to the country's five major banks. It first created its characteristic purple credit card to alleviate excessive interest rates (up to 400 percent a year on other Brazilian credit cards) and to simplify the credit procedure with a virtual, app-based system (and no hidden fees) and is currently Brazil's sixth-largest credit card issuer. In 2017, the company expanded into high-interest savings accounts via which users can transfer money or pay bills. Last year, it introduced direct
Online lender Nubank is targeting a valuation of over $50 billion for its initial public offering in the United States, which would make it more valuable than Brazil's largest traditional lender Itau Unibanco Holding SA . The Sao Paulo-based fintech, which was last valued at $30 billion after a funding round led by Warren Buffett's Berkshire Hathaway, is expected to list its
The 20 Largest Global Startup Funding Rounds of June 2021 alleywatch.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from alleywatch.com Daily Mail and Mail on Sunday newspapers.
Nubank - AlleyWatch alleywatch.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from alleywatch.com Daily Mail and Mail on Sunday newspapers.