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In June, Nu raised a $750m round led by Berkshire Hathaway at a $30b valuation, making it one of the most valuable unicorns in the world. Since its 2013 inception, Nu has raised $2.3b in capital, with investors such as Sequoia Capital, Tencent, Ribbit Capital, Kaszek, QED Investors and others.
Colombian businessman and former Sequoia VC David Velez founded Nu with the mission of fixing the dated Brazilian banking system. The company set out to help serve the underbanked and unbanked in the country with a range of products and services. It is estimated that tens of millions remain unbanked in Brazil, so the opportunity for the neobank remains quite large, especially considering the increased use of smartphones and the move to digital overall.
https://techcrunch.com/2021/10/27/nubank-files-to-go-public/
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