Nubank eyeing up $55bn valuation in upcoming IPO

The valuation will place it squarely among the most highly-valued fintechs in the world.

Brazilian digital bank Nubank is the biggest digital bank in the world, both in terms of the number of customers and valuation, and it looks like its valuation is set to climb even higher.

According to Reuters, Nubank is seeking a valuation of over $55.4bn in its planned US IPO, higher than that of Brazil’s top two traditional lenders.

The digital bank’s latest funding round saw its valuation skyrocket to $30bn after a $750m mega-round, placing it amongst the most highly valued fintechs in the world.

For its upcoming IPO, the digital bank has hired Morgan Stanley, Goldman Sachs and Citigroup to help guide it through its upcoming stock market debut.

In just eight years of operation, Nubank has amassed over 40m users across Brazil, Mexico and Colombia, with plans to expand across Latin America, more than the four biggest European challengers combined.

As it stands, UK digital challenger bank Revolut has a higher valuation than Nubank, currently standing at $33bn following a recent fundraise, despite having well under half the number of customers, so there’s no knowing just how high Nubank’s valuation could climb at IPO.

Nubank is the seventh-most valuable fintech in the world according to data from CB Insights, placing behind fintech stalwarts Klarna, Stripe and Robinhood.