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Nubank Lists in NYSE at a USD44b Valuation

8 December 2021
Nu_Listing

Nubank listed in the NYSE in what is reported to be one of the biggest IPOs in for 2021 at a reported USD44b valuation. Nubank also listed in B3 through Brazilian Depositary Receipts (BDR). Berkshire Hathaway led a USD750m Series G+ in June 2021 at a reported USD30b valuation.

(The Wall Street Journal) – When David Vélez tried to open an account in a Brazilian bank in 2012, it took him four months to win approval, not unusual in a country where high fees and bureaucracy are the norm in banking. When visiting the bank, he would leave his cellphone in a locker before passing through bulletproof doors as armed guards scrutinized him.

“You’re going through all that experience to then pay 15%-a-month interest rates and pay hundreds of fees,” he recounted at a CB Insights conference in New York in 2018. “How is it possible you’re doing that?”

Read more at The Wall Street Journal.

Nubank Lists in NYSE at a USD44b Valuation was last modified: December 16th, 2021 by cramos
David VelezLatin AmericaNubankVenture CapitalWarren Buffet
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