(Reuters) - Brazilian digital lender Nubank, which is backed by Warren Buffett’s Berkshire Hathaway Inc, said on Wednesday it had confidentially filed for an initial public offering in the United States.
The market debut of the Sao Paulo-based company, valued at $30 billion after a Berkshire-led investment in June, is expected to be one of the biggest IPOs of a South American company in recent years.
Nubank could seek a valuation of more than $55 billion, Reuters reported in August here.
Perks including no fees or minimum balance requirements have added to the appeal of lenders such as Nubank. The trend has only accelerated during the pandemic that forced people to turn to mobile phone apps for banking solutions.
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