A bit of light shined on rumored US$300 million Nubank round

Contxto – Dang nabbit Nubank. It’s hard to keep up with you lately. 

Almost a week ago the Brazilian fintech published its financial results for the first half of 2020. Now news is leaking that it recently raised a large investment round—US$300 million to be exact. Am I shocked? Not at all. 

This is something our Lead Editor, Alex, had already foreseen and reported since last month, including the amount. So what’s different this time around? We (likely) now have the names of some of the participants. I’ll explain the “likely” bit in a bit.

Nubank news

This week, media sources across the internet are reporting that Nubank filed a document with the SEC (the U.S. Securities and Exchange Commission). In the filing, the fintech reportedly said that it snagged an investment for US$300 million last June. 

It also mentions the names of some of the round’s participants, including reps from Kaszek Ventures, Sequoia Capital, and Ribbit Capital. These names aren’t a novelty either. They’d pitched funds before.

There were other contributors. But their identities were not disclosed. So that makes me wonder if there were other hot-shot VCs involved.

Last time Nubank closed funds was for US$400 million in July of last year. So the timing for it to raise another round is quite right.

Just admit it already…!

We’ve done our homework of reaching out to Nubank to learn more on the matter but have always been met with stony silence.

In the meantime, does this SEC filing officially confirm the round? To be honest, I’m uncomfortable calling it 100 percent legit. I’ve been looking for this document that media sites keep mentioning but give no backlink to. 

I for one would love to see the darned thing and join the hype.

In any case, I’m quite certain this US$300 million round did happen—and was leaked. The unicorn just hasn’t made it official yet.

Related articles: Tech and startups from Brazil!

-ML