Nubank is expanding its presence around the world and entering into transactions that benefit it in its expansion. According to a Wall Street Journal report, the Brazilian-born bank will have a new shareholder: Berkshire Hathaway.
According to the media, the company led by Warren Buffet agreed to buy 500 million dollars of Nu shares, in addition to an agreement for 250 million dollars where an investment is proposed for the expansion of the bank on a national and foreign scale.
With these deals, the value of the company amounted to $ 30 billion, according to Nu.
In April of this year, Nubank announced that it would invest 135 million dollars in Mexico, in order to hire personnel and develop technology in the country, thanks to the fact that it had obtained a financing of 70 million dollars from JP Morgan and financing more than Goldman Sachs and Bank of America for $ 65 million.
With this new capital inflow, Nubank could expand to more countries in the world. So far, the fintech has 40 million users in Brazil, Mexico and Colombia, and since its creation it has raised $ 2 billion to expand throughout the region. However, Berkshire’s investment is the largest the neobank has ever received.
