Brazil based digital credit card startup has raised $180m in venture financing at a $4b valuation from Tencent.
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Chinese Internet Giant Tencent Invests $180M In Brazil’s Fintech Start-Up Nubank
The investment is aimed at helping Nubank "build a full-service personal finance platform", said Tencent’s president Martin Lau in a statement on Monday. The deal comes at a time when Nubank is preparing to make consumer loans available by the end of 2018, extending its current mainstays of fee-free credit cards and digital payment accounts. In January, the company had received approval from the Brazilian central bank to offer loans to consumers. Besides the new funding injected by Tencent, Nubank has raised US$330 million through six financing rounds since its inception in May 2013.
