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Brazilian startup Nubank is expanding from credit cards into digital accounts allowing users to make transfers, pay bills and earn more interest than average savings account, beefing up its challenge to traditional domestic banks.
Venture capital firms including Sequoia Capital, Kaszek Ventures, Tiger Global Management and DST Global have invested $179 million in Nubank since 2013, giving it a value of $500 million in early 2016 that made it the largest Brazilian fintech startup. The number of firms in Brazil's financial technology sector has risen about six-fold in the past couple of years as they offer borrowers lower interest rates than traditional banks.
https://www.nytimes.com/reuters/2017/10/24/technology/24reuters-nubank-accounts.html
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