Brasil based digital finance startup NuBank has raised $80m in Series D funding led by DST Global. NuBank is the leading digital provider of financial services based in Brasil.
The new financing suggests that despite Brazil’s political and economic upheaval, the financial technology sector remains a bright spot. Peter Thiel’s Founders Fund, QED Investors, Sequoia Capital and Tiger Global Management, all prior investors in Nubank, also joined the investment round, which closed in late November, David Velez, the company’s founder and chief executive, said in an interview. New backers Redpoint and Ribbit Capital, which over the last six years have been two of Silicon Valley’s most active investors in Brazil, also participated. Mr. Velez did not disclose the private company’s current valuation. The investment comes at a time when the broader financial technology sector in Brazil is gaining traction.