Golden Recursion Inc. logoGolden Recursion Inc. logo
Advanced Search


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.


June 8, 2021
Nubank announces a $750,000,000 extension funding to its Series G, led by Berkshire Hathaway and a number of other investors.
June 8, 2021
Nubank raises a $750,000,000 series G round.
January 2021
Nubank raises a $25,000,000,000 series G round from Invesco and Whale Rock Capital Management.
January 2021
Nubank raises a $25,000,000,000 series G round from Dragoneer Investment Group, Ribbit Capital, Sequoia Capital and Tencent.
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.

July 2019
Nubank raises a $400,000,000 series F round from DST Global, Dragoneer Investment Group, Ribbit Capital, Sequoia Capital, TCV, Tencent and Thrive Capital.
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.

March 2018
Nubank raises a $150,000,000 series E round from DST Global, Dragoneer Investment Group, Founders Fund, QED Investors, Redpoint Ventures and Ribbit Capital.
December 7, 2016
DST leads $80M round in Brazil's Nubank to take on the big boys in financial services.

Funding rounds




Further reading


Documentaries, videos and podcasts



Priyanka Pani
August 5, 2021
Crowdfund Insider
Brazilian neobank has led a $45 million series B funding in Indian fintech and neobank Jupiter ahead of its launch next month
Manish Singh
August 5, 2021
Industry veteran Jitendra Gupta's neobank for consumers in India has raised $45 million in a new financing round as the Bangalore and Mumbai-based startup gears up for Jupiter's public launch in about a month. The new financing round, a Series B, was co-led by Brazil-based Nubank, Global Founders Capital, Sequoia Capital and Matrix Partners. Mirae Assets [...]
JD Alois
June 21, 2021
Crowdfund Insider
Click HERE to find out ⭐ Latam Fintech Nubank Said to be Planning an IPO in the US. | Crowdfund Insider: Global Fintech News, including Crowdfunding, Blockchain and more.
Natasha Mascarenhas
June 19, 2021
Today, on Juneteenth, we recognize the efforts this nation still needs to put toward addressing structural racism and disparities, including in the world of tech. This week, HBCUvc, a nonprofit that aims to diversify the world of venture capital, launched a million-dollar fund. Founder Hadiyah Mujhid told me that the capital would provide nondilutive financing [...]
Annie Siebert
June 15, 2021
What, exactly, are investors looking for?


Golden logo
By using this site, you agree to our Terms & Conditions.