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IPO Date 8/12/2021

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General info on NU Holdings

 

About the company

  • Name
    NU Holdings Ltd.
  • Industry
    Digital banking
  • Employees
    3,700+
  • Founding year
    2013
  • Ticker
    NU

Filing Information

  • IPO file date
    30/11/2021
  • No. of shares
    289,150,555
  • Price
    $8 - $9
  • Exchange
    NYSE
  • Bookrunners
    Morgan Stanley, Goldman Sachs, Citigroup, HSBC, UBS Investment Bank
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IPO Details

About NU Holdings

NU Holdings (Nubank) is the largest digital bank in the world by the number of customers (over 48 million), with an average of 40,000 new accounts being opened each day.

The company offering digital credit cards, transfers, and payments was founded in 2013 by Colombian David Vélez, Brazilian Cristina Junqueira and American Edward Wible and is headquartered in Sao Paolo, Brazil. Apart from serving clients in Brazil, Nubank also has operations in Colombia and Mexico.

Some of Nubank's investors are Sequoia Capital, Founders Fund, Kaszek Ventures, Tiger Global Management, Goldman Sachs, QED Investors and DST Global. Berkshire Hathaway, Warren Buffett’s company, also owns a $500 million stake in Nubank.

Nubank is considered one of the top 100 most influential companies globally by TIME magazine and one of 50 names in CNBC's 2021 Disruptor list.

The first transaction with a Nubank card was made on April 1, 2014. Four years later, Nubank became a unicorn startup with a valuation of more than US$1 billion. In the same year, Nubank launched its first financial product, an international Mastercard credit card that can be managed through a mobile app.

In 2017, Nubank launched its loyalty program, Nubank Rewards, followed by its digital account, NuConta. In 2020, Nubank bought Plataformatec, a company specialising in software engineering, and Easyinvest, a Brazilian investment broker.

IPO figures

The startup hopes to raise up to $2.86 billion through its initial public offering. NU Holdings plans to sell more than 289 million shares priced between $8 - $9 apiece, with the option for underwriters to buy 43.37 million additional shares.

Valuation

Nubank is valued at around $30 billion, second only to UK challenger bank Revolut. NU Holdings market valuation could exceed $40 billion based on the number of outstanding shares.

Basic info about NU Holdings

  • Upon IPO, NU Holdings could become the number one fintech company, surpassing Revolut.
  • Warren Buffett’s Berkshire Hathaway owns a $500M stake in NU Holdings.
  • Financial Times estimated the company’s value at approx. $30 billion.

 

Sources: cnbc.com, investors.com, marketwatch.com, sec.gov, techcrunch.com, reuters.com, ft.com

Summary

  • Ticker
    NU
  • Price
    $8 - $9
  • Exchange
    NYSE
  • Bookrunners
    Morgan Stanley, Goldman Sachs, Citigroup, HSBC, UBS Investment Bank
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Key Points

Get a quick overview of the essential figures for NU IPO

Targeted valuation

up to $41.7 BLN

Revenue growth in 2021

88%

Total number of customers

48.1m

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NU

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NU IPO Sneak peek
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  • Status: Upcoming
  • IPO Date: 9/12/2021
  • Price: $8 - $9

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