
Nubank raised an additional $400 million to finance its expansion in Brazil and Latin America, in an operation that places the institution among the most valuable lenders in the country. Valued at $25 billion, it is slightly ahead of XP and only behind Itaú/Unibanco, Bradesco and Santander, according to Thursday’s close. The investors’ bet put a lot of pressure on Nubank, which is not a profitable business yet.
Source: Valor International