On December 9, the Brazilian digital bank Nubank conducted an IPO on the New York Stock Exchange, raising $2.6 billion, Bloomberg reports. In two days, the shares rose 31.7%, and the market capitalization reached $54.6 billion.
With this valuation, Nubank became the most valuable financial institution in Latin America.
Headquartered in São Paulo, Nubank serves more than 48 million customers in Brazil, Colombia and Mexico.
In September 2020 the company acquired the Easynvest investment platform. In May 2021 the Central Bank of Brazil approved the merger, and on June 2 the parties closed the deal.
In June, Warren Buffett’s investment holding Berkshire Hathaway invested $500 million in Nubank. The financing formed part of the Series G round, in which the digital bank was valued at $30 billion.
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