Startup credit card issuer Nubank finalized on Wednesday a US$ 80 million fund-raising, equivalent to approximately R$ 276 million. The investment round was led by the DST Global fund, in its first investment in South America, and also had the participation of Redpoint Ventures and Ribbit Capital funds.
Nubank is a fintech company and the first “online-only” credit card issuer in Brazil.
This is Nubank’s fifth investment round since it was launched in September 2014. Until then, investor contributions to the company amounted to $ 99 million, mostly international funds specializing in technology companies, as well as a line of Goldman Sachs’ R$ 300 million loan. In the fourth round of contributions, in January this year, NuBank received $52 million in investment led by the Founders Fund, one of Facebook’s first investors.
Nubank does not disclose the number of credit cards issued or the financial volume of its base transactions. According to the company, since its foundation, about seven million orders have been made for a Nubank card. In the middle of this year, he said that orders were close to R$ 3.5 million.
According to a statement sent by Nubank, the funds raised will be used to accelerate growth and investments in technology infrastructure.