Brazilian FinTech Nubank is seeking a valuation of over $55bn at IPO, says Reuters.
In Brief:
An IPO is rumoured to take place later this year or early next year.
In June, Nubank’s valuation was reported as $30bn.
The firm plans to list in the US.
What does this mean?
Nubank has been growing rapidly from its Brazil base, with around 40mn customers using the digital banking platform. It has now expanded into lending products and more, as well as growing out its offering to Mexico and Colombia.
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