Nubank signed an agreement to acquire Banco Porto Real de Investimentos S.A., a Brazilian bank that specializes in wholesale lending. The transaction is subject to approval by Brazil’s Central Bank.
Founded in 2013, Nubank is a digital financial institution that provides banking, credit, payments, and investment services across Latin America.
Once the deal closes, Banco Porto Real’s banking license will be added to Nubank’s existing licenses, helping the company comply with Brazil’s financial institution naming regulations.
Nubank serves 115 million customers in Brazil and has helped 31.5 million people gain access to bank accounts, credit, and savings products. Earlier this year, it became the country’s largest private financial institution by customer count.
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