:Brazilian fintech Nubank, which was valued at US$30 billion in a recent funding round led by Warren Buffett's Berkshire Hathaway, has filed for an initial public offering in the United States.
It allows Nubank to sidestep the Brazilian IPO market, which is down by about 15per cent this year in dollar terms, with several recent floats cancelled due to poor reception from investors. The boom in the use of fintech services across the world has accelerated dealmaking in the sector. Earlier this year, buy-now-pay-later firm Affirm went public at a valuation of US$22 billion, while payments firm Square agreed to buy Australia's Afterpay for US$29 billion.
Founded in 2013 by David Velez, a Stanford-educated Colombian, it began as an issuer of credit cards that charged no annual fee. The bank has since gained more than 40 million clients and launched products including checking accounts and loans.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Brazil senators call for records of Bolsonaro's Internet activityBRASILIA: A Senate investigative committee agreed on Tuesday (Oct 26) to request access to records of President Jair Bolsonaro\u0027s Internet activity, the latest threat to the far-right leader in a probe of his administration\u0027s handling of the COVID-19 pandemic. The request comes on the day senators are sched
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Brazil senators back criminal charges against BolsonaroBRASILIA — A Brazilian Senate commission approved a damning report on Tuesday (Oct 26) that recommends criminal charges be brought against President Jair Bolsonaro, including crimes against humanity, for his Covid policies.
Source: TODAYonline - 🏆 1. / 99 Read more »
In Brazil favela, skateboards made of bottle caps promote recyclingRIO DE JANEIRO : In Brazil's largest favela of Rocinha, on the outskirts of Rio de Janeiro, a local project aims to promote recycling by donating food in exchange for bottle caps that are used to build skateboards.Each colorful skateboard is made of some 500 plastic bottle caps that are crushed, melted, p
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Brazil could collect up to 3 billion reais via 5G auction, says regulatory officialSAO PAULO : Brazil's treasury could raise up to 3 billion reais (US$538.60 million) through its 5G auction next week if all available frequencies are sold, Abraão Balbino, chief of telecoms regulator Anatel, said on Wednesday.Fifteen companies and groups presented the required documentation on Wednesday
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Brazil to step up its climate goals at COP26, says negotiatorBRASILIA: Brazil will step up its Paris Accord targets at COP26 as it tries to recover credibility for its environmental policies and its stewardship of the Amazon rainforest, the country\u0027s top diplomat for climate talks said in an interview. \u0022I ask everyone for the benefit of the doubt and to look toward
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Security analytics firm Devo Technology valued at US$1.5 billion after latest fundingDevo Technology, a security analytics company, said on Tuesday it has raised US$250 million at a valuation of US$1.5 billion in a funding round led by Silicon Valley venture capital firm TCV.Devo said it will use the capital raised to enter new markets. The Series E round, which brings the total funds rai
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »