Industry Newsroom

TCV Agrees to Lead USD400 Million Series F Investment in Nubank

Global technology-focused growth equity fund manager TCV has agreed to lead a USD400 million Series F investment in Brazil-based digital banking and financial services provider Nubank. Other investors in the funding round include Singaporean sovereign wealth fund GIC, as well as existing investors Tencent Holdings, DST Global, Sequoia Capital, Dragoneer Investment Group, Ribbit Capital, and Thrive Capital Partners. The company provides digital credit card and consumer banking and lending services to more than 12 million customers in Brazil, Argentina, and Mexico. The transaction, which reportedly values Nubank at more than USD10 billion, is subject to customary closing conditions.