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Fintech decacorn Nubank raises $400M led by TCV

via TechCrunch

Another day, another mega round for a fintech startup. And this one is mega-mega.

Brazil-based Nubank, which offers a suite of banking and financial services for Brazilian consumers, announced today that it has raised a $400 million Series F round of venture capital led by Woody Marshall of TCV. The growth-stage fund is best known for its investment in Netflix but has also made fintech a high priority, with over $1.5 billion in investments in the space. According to Nubank, the company has now raised $820 million across seven venture rounds.

Katie Roof and Peter Rudegeair of The Wall Street Journal reported this morning that the company secured a valuation above $10 billion, potentially making it one of a short list of startup decacorns. That’s up from the $4 billion valuation we wrote about back in October 2018. (more…)

Banks, Deals, Mobile-first banks

July 27, 2019

4095

Ualá’s new credit line evens the playing field in Argentina

via Contxto 

As the challenger and neo-bank industry starts to mature, what used to be called “startups” are now reaching puberty.

These alternative banks aren’t the cute little babies that they used to be. Rather than hoping to someday be like dad, now they’re actually competing with dad.

At least this is the case of Argentina’s most famous challenger bank, Ualá. Previously succeeding in terms of debit card allocation, it is now joining the big boys club with its new credit services. (more…)

Banks

July 10, 2019