In a story brought to our attention by Startupi and confirmed by Reuters, Brazil’s biggest online banking startup, Nubank, raised a US$150M Series E round in March 2018. The round was led by DST Global through Founders Fund, along with Redpoint Ventures, Ribbit Capital and QED, and two new investors, Dragoneer Investment Group and Thrive Capital.
With this round, Nubank secured a US$1B valuation, becoming Brazil’s third unicorn of the year. The first was 99, which was acquired by Didi Chuxing in January. The second was PagSeguro, whose IPO in January 2018 raised US$2.7B.
In total, Nubank has now raised US$330M and will use the most recent funding to continue to expand within Brazil.
“Nubank is one of the most innovative fintechs in the world,” says Tom Stafford, Managing Partner of DST Global. “Last year, Nubank launched a series of new products and exceeded three million active customers using only the advice of its loyal customer base. We are excited to continue our partnership with David and the Nubank team as they revolutionize the future of financial services in Brazil. “
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