Brazil’s Nubank raises investment from Buffett, others; market valuation hits US$30 billion

Nubank's valuation jumps from US$25 billion to US$30 billion with the new contributions. The amount represents about half of Itaú's market value, the country's largest bank.

RIO DE JANEIRO, BRAZIL - Nubank has closed two extensions of the Series G investment made earlier this year, which total US$750 million. The amount is almost double the US$400 million raised in the February investment round.

The largest investor in this round was Berkshire Hathaway, owned by mega-investor Warren Buffett, which contributed US$500 million. The US$250 million investment was led by Sands Capital and included the participation of Brazilian management companies Absoluto and Verde, also owned by renowned investor Luis Stuhlberger.

According to sources familiar with the round, Nubank's valuation jumps from US$25 . . .

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