Brazilian neobank Agibank raised $63M from Lumina Capital, marking Lumina’s first private equity investment. Lumina’s Managing Partner Daniel Goldberg stepped down from his board position at Nubank to join Agibank’s board as part of the round.
Agibank is a neobank that offers digital accounts, credit cards, and loans to the underserved population in Brazill. Agibank serves its customers both digitally and through physical branches, focusing on a wider demographic than fully digital neobanks.
“Our business model allows us to fill a gap that is poorly served by traditional banks and by digital banks,” said Marciano Testa, Agibank’s founder and Executive Chairman.
This investment brings Agibank’s valuation to $1.7B.
Read more on LatamFintech Hub and Brazil Journal.