Nubank files to launch IPO on U.S. and Brazilian stock exchanges

Photo: Instagram de Nubank

Through its parent company, Nu Holdings, Nubank confidentially filed a F1 registration application with the Securities and Exchange Commission (SEC) in the United States, as well as the Reference Form with the Securities and Exchange Commission (CVM) in Brazil, for its proposed Initial Public Offering (IPO).

While the company plans for the IPO to take place once the SEC and CVM complete their review processes, there are already rumors that this could happen as early as December of this year.

Nubank is at the forefront of fintech investments in LatAm

The fintech sector is attracting the most attention from investors. In 2020, this industry accounted for 40% of all venture capital invested in Latin America, according to LAVCA.

2021 is no exception, Crunchbase noted, as companies such as Brazil’s Nubank, C6 Bank, Creditas, EBANX, and Neon, as well as Mexico’s Bitso, continue to lead investment rounds, raising financings of around $2.3 billion, $2.3 billion, $594 million, $460 million, $420.3 million and $378 million.

All these companies have turned out to be Latin American unicorns, so Brazil not only continues to be a leader in the fintech sector, but also in being the country that hosts the most startups worth more than $1 billion in Latin America.

What’s next: going public

Latin America has seen several unicorns emerge in recent months, but also about 55 IPOs from January to August 2021, noted in its White & Case column.

Among them stands out, in the last year, DLocal in Uruguay, which is a payment processing and cross-border startup and who took its IPO to Nasdaq in early June.

Another case is VTEX, a Brazilian company that works with retailers to manage their e-commerce operations, which went public on the New York Stock Exchange at the end of July.

However, Brazil is the country that is experiencing growth in IPOs. In fact, 41 companies announced their intention to debut on the B3 exchange during 2021, while last year 28 made incursions, reported Financial Times.

Currently, the South American country maintains a solid capital market, which is why this year it was able to set a price of $12 billion in IPOs, reported Bloomberg.

Scaling a startup or scouting for your next deal?
We help you get there faster.