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03

Nubank Raises $30 Million to Challenge Banking in Brazil

By Tony Seruga

RIO DE JANEIRO — Nubank, the financial technology start-up founded by a former partner at Sequoia Capital, said on Tuesday that it had raised $30 million in a new funding round led by Tiger Global Management.

Sequoia and another original backer, Kaszek Ventures, which is based in Buenos Aires, also joined in the round, which closed about two weeks ago, the company’s founder and chief executive, David Velez, said in an interview.

QED Investors, which first invested in Nubank last year at the end of its Series A round, also participated.

Tiger Global declined to comment, but two people briefed on the transaction and not employed by Nubank corroborated the company’s account…

Nubank Raises $30 Million to Challenge Banking in Brazil

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