Nubank is a financial technology company based in Brazil issuing, administrating, processing and transfering payments related to post-paid credit cards and equity investments.

Founded in 2013 by David Vélez, Cristina Junqueira, and Edward Wible, to offer banking and credit services in Brazil. They offer their signature purple MasterCard, high-interest savings accounts, personal loans, and debit cards for consumers and small-to-medium enterprises (SMEs).


They launched their first product, a MasterCard Platinum credit card managed through Nubank's app, in 2013. The card attracted customers with no fees – afforded by their lower overheads than traditional banks – and lower interest rates than their brick-and-mortar competition. Nubank used their mobile interface to simplify the credit application process as well.

During Brazil's 2016 recession, Nubank introduced rewards programs to their credit card offerings. They were confident their low overhead and conservative credit modelling, built during an economic downturn, would protect them during the recession.


Nubank received regulatory approval to operate as a bank in January 2018. They opened their new digital bank accounts – named NuConta – which gave customers access to billpay, account-to-account transfers and the ability to save more than regular savings accounts.

Conta PJ

Similar to their NuConta accounts, Conta PJ are aimed at small businesses as a business account. Offering users free transfers between accounts and banks, bill and taxes payments, deposit via boleto and the "charge money" feature which allows users to send a link to remind others to send them money.

Nubank also offers personal loans which emphasize transparency into their rates. They allow users to run a simulation of their loan to see the impact the fee and payment structure would have on them and allows them to manage their payments.

Seed Round

In July 2013, Nubank raised $2 million in their seed round. Investors included Sequoia Capital and Kaszek Ventures.

Series A

Nubank raised $14.3 million in their Series A. Sequoia Capital led the round which included QED Investors, Nicolas Berggruen and Kaszek Ventures. The announcement of their Series A funding coincided with their launch of a MasterCard Platinum credit card managed through Nubank's Android or iOS app.

Series B

In June of 2015, Nubank raised $30 million. Tiger Global Management led the round, which included Sequoia Capital, Kaszek Ventures and QED Investors.

Series C

In January 2016, Nubank raised $52 million in financing. Founders Fund led the round which included participation from returning investors Sequoia Capital, Kaszek Ventures and Tiger Global Management. The post-financing valuation of Nubank was $500 million.

Debt Financing

In April of 2016, Nubank recieved $56 million from Goldman Sachs in a debt financing round.

Series D

In December of 2016, Nubank raised an $80 million round. DST Global led the round which included participation from Sequoia Capital, Tiger Global Management, Founders Fund and QED Investors. This financing came during one of Brazil's worst recessions.

Debt Financing

In August 2017, Nubank raised another debt financing. The round was valued at $144 million and involved Goldman Sachs, who increased their current credit to Nubank, and Fortress Investment Group.

Series E

Nubank raised $150 million in March 2018. DST Global Investment led the round, which included participation from Founders Fund, Redpoint Ventures, Ribbit Capital LP, QED Investors, Dragoneer Investment Group and Thrive Capital Partners. This funding came after Nubank received regulatory approval to operate as a bank, its new digital account and announced 13 million Brazilians had applied to be a Nubank customer.

Secondary Market

Nubank announced a $180 million investment from Tencent in October 2018. This brought Nubanks valuation to $4 billion.

Series F

The July 2019 round raised $400 million for Nubank. TCV led the round which included participation from Tencent, DST Global, Sequoia Capital, Dragoneer Investment Group, Ribbit Capital LP and Thrive Capital. The financing came off of Nubank expanding their offerings geographically, opening offices in Mexico and Argentina in May of 2019. This round of financing brought Nubank to a $10 billion valuation.


July 26, 2019
Series F

Brazil-based Nubank has raised a $400 million Series F round of venture capital led by Woody Marshall of TCV.

October 8, 2018
Nubank is now worth $4 billion after Tencent's $180 million investment.
March 30, 2018
Nubank Challenges Brazil's Big Banks in Wake of $150 Million Funding Round. The Series E also featured participation from current investors Founders Fund, Redpoint Ventures, Ribbit Capital LP, and QED.

In addition to its equity capital of $330 million, Nubank received a $137 million (R$455 million) line of credit from Goldman Sachs last year.

December 7, 2016
DST leads $80M round in Brazil's Nubank to take on the big boys in financial services.
June 2, 2015
Brazil's Nubank Raises $30M Led By Tiger To Build Out Its Mobile-Based Credit Card Business.
September 25, 2014
Finance Startup Nubank Nabs $14.3M in Sequoia's First Brazil Investment.

Funding rounds

Funding round
Funding type
Funding round amount (USD)
Funding round date
Nubank funding round, July 2019
July 2019
10 Results
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Launch date
2 Results
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Adam Edward Wible


Cristina Junqueira


David Velez


Further reading


Documentaries, videos and podcasts





January 13, 2021
Vijay Shekhar Sharma said the crisis had forced more merchants to use PayTMs platforms as businesses were forced to accept digital payments
Rachel Green
January 7, 2021
Business Insider
N26 has teased its entrance to the Brazilian market since 2019--and while it presents major opportunities, a big threat looms in the shape of Nubank.
Mark Stenberg, Jennifer Ortakales Dawkins, Dominick Reuter and Emily Canal
December 11, 2020
Business Insider
These paydays include billions of dollars for companies in finance, real estate, and transportation, as well as millions for a hot ecommerce site.
Michael Tattersall
December 3, 2020
Business Insider
Nubank has rolled out a low-cost, digitized life insurance product in Brazil, which will be underwritten by global insurer Chubb.
Anna Escher
March 3, 2020
Nubank, the Brazilian digital bank valued at $10 billion, is launching its Nu credit card in Mexico - a country where the unbanked population counts 36 million people. The Sao Paulo-based fintech company, known for its fully-mobile digital bank and credit card, has raised $820 million across seven rounds of investment and has amassed nearly [...]
Anna Escher
November 27, 2019
Argentina's Ualá became the most recent Latin American fintech to receive a growth-stage funding ($150 million) from Asian investors, Tencent and Softbank. This marks Tencent's second round of investment in Ualá, the first coming in April 2019. Tencent also invested $180M in Brazil's leading neobank, Nubank in 2018. With Ualá, Tencent and Softbank will join a [...]
Reuters Editorial
October 11, 2019
Brazilian financial technology start-up Nubank now has 15 million clients, the firm's chief executive said on Friday, a figure which underlines the rapid growth of the Sequoia Capital-backed venture in Latin America's largest economy.
Council of the Americas
September 17, 2019
MIAMI, Sept. 17, 2019 /PRNewswire/ -- Council of the Americas (COA) announces the final group of leaders that will be honored at the 25th edition of the BRAVO...
Danny Crichton
July 26, 2019
Another day, another mega round for a fintech startup. And this one is mega-mega. Brazil-based Nubank, which offers a suite of banking and financial services for Brazilian consumers, announced today that it has raised a $400 million Series F round of venture capital led by Woody Marshall of TCV. The growth-stage fund is best known [...]
Aluisio Alves
May 7, 2019
Brazilian fintech firm Nubank will open an office in Mexico on Tuesday, an initial step in a potential expansion into other Latin American countries, a company executive said.
Aluisio Alves
May 7, 2019
Brazilian fintech Nubank is opening an office in Mexico on Tuesday, an initial step in a potential expansion into other Latin American countries, an executive said.


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