BANGALORE/SÃO PAULO (Reuters) – Digital bank Nubank is seeking a valuation of more than $55.4 billion in its initial public offering (IPO) in the United States, said two sources familiar with the matter, which would surpass the market value of Itaú Unibanco.
If Nubank achieves this goal, it will be among the biggest fintechs in the world, ahead of Robinhood, for example.
A source added that in recent weeks Nubank executives had asked for valuations of up to $100 billion, but that the company would hardly be valued at that level on the listing.
In a recent fundraising round led by Warren Buffett’s Berkshire Hathaway, Nubank, which has 40 million customers, was valued at $30 billion.
According to CBInsights ranking, Nubank is the seventh most valuable unicorn in the world, behind Stripe, Klarna and Revolut.
Nubank hired investment banking units from Morgan Stanley, Goldman Sachs and Citigroup to help lead the United States.
(Reporting by Anirban San and Carolina Mandl)
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