DATE TBC – Venture capital fund Yolo Investments has made a significant investment in Brazil-facing fintech innovators Nubank.
Nubank already serves more than 40 million Brazilians with a range of banking and financial services, and is quickly expanding into other key markets across Latin America.
Warren Buffett’s Berkshire Hathaway led a recent fund-raising round at a valuation of $30 billion, and according to market intelligence platform CB Insights, Nubank is the world’s seventh most valuable unicorn.
The investment from Yolo bolsters an existing fintech portfolio which already includes some of the most exciting new companies in the space; in July, Yolo announced one of its largest investments to date in the financial super app Curve.
Yolo Investments GP Tim Heath said: “Nubank is changing the way tens of millions of Brazilians interact with their bank. This is nothing short of a financial revolution in one of the most exciting markets in the world. Backed by a world-class team and with ambitious global plans, this is an important addition to our fintech portfolio.”