Nubank, a Brazilian FinTech, has raised $2.6bn as it went public on the New York Stock Exchange.
In Brief:
Nubank offers a digital lending platform with around 48mn customers.
It currently operates across Brazil, Mexico and Colombia.
Following the IPO it is valued at over $40bn.
What does this mean?
The IPO, though lowered from an initial intention to raise 43.2bn, makes Nubank the highest valued listed bank in Latin America. Since its launch, Nubank has grown beyond lending products to offer other aspects like insurance and payments.
