Media: Buffett-backed digital bank with Berkshire Hathaway investments plans a $2 billion Nasdaq IPO

The Brazilian digital bank Nubank plans to conduct an IPO on the Nasdaq stock exchange by the end of 2021. In the offering, the company aims to raise more than $2 billion. Bloomberg reports, citing sources familiar with the matter.

Sources to the publication noted that after the listing Nubank’s valuation could rise to $40 billion. The underwriters are reportedly Morgan Stanley, Goldman Sachs Group Inc, Citigroup Inc and UBS Group AG.

Bloomberg sources stressed that the deal is at the discussion stage and details of the potential offering have not yet been determined.

Based in São Paulo, Nubank serves more than 40 million accounts, of which around 30 million are in Brazil. In the first five months of 2021, 45,000 new users joined daily.

В сентябре 2020 года компания приобрела инвестиционную платформу Easynvest. В мае 2021 года Центральный банк Бразилии одобрил слияние, а 2 июня стороны закрыли сделку.

Easynvest manages $5 billion in assets, and its platform serves more than 1.6 million people. The platform offers investments in digital assets and Bitcoin-based exchange-traded funds.

Back in June, Berkshire Hathaway invested $500 million in Nubank. The financing followed the Series G round, in which the digital bank was valued at $30 billion.

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