Nubank, the Brazilian digital finance and payments company, announced a $30m Series B. The company has now raised $46.3m since its founding in 2013. Along with the funding, Nigel Morris, managing partner at QED Investors and co-founder of Capital One, and Gene Lockhart, former global CEO of MasterCard, have both joined the company's board.
Nubank, which has developed a platinum Master Card credit service that you apply for and manage using only your mobile phone, has picked up $30 million. The Series B round was led by new investor Tiger Global Management, with existing backers Sequoia Capital, Kaszek Ventures and QED Investors also participating. The company is not disclosing its valuation in this round. Since launching its service in September last year, at the same time that the company also announced its $14.3 million Series A round, Nubank has picked up more than 200,000 applications from interested users, with 100,000 of them still on its wait list. Those using cards have made more than 750,000 purchases so far.