Analysts following Nubank’s planned initial public offering (IPO) have reported that the firm, through this move, is likely to hit a remarkable US$55 billion valuation.
Nubank is a fintech firm headquartered in Brazil and is home to a total of 40 million+ users within Latin America. The firm has grown its customer base by looking out for new and easy ways to serve the region’s unbanked or underbanked population.
We recently reported investment by Warren Buffett’s Berkshire Hathaway in Nubank. A deal that would bring Nubank’s valuation up to US$30 billion.
At that valuation, the fintech automatically becomes more valuable than all the banks in Brazil. It also secures a spot on the global list of top fintech firms.
It currently ranks seventh on the list of most valuable fintech firms in the world, behind major players such as Stripe, Klarna, and Revolut.
According to reports, “investment bankers at Morgan Stanley, Goldman Sachs, and Citigroup are now working on the IPO”. News reports put the likely timeline of the IPO at late 2021 or early 2022.
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