Brazil's Nubank shakes up market with IPO, funky beats - NewsBreak

With 48 million clients, pop star Anitta on its board and a viral ad set to the beats of Brazilian funk, Nubank, a new digital-only bank, is shaking up the market in Brazil -- and now eying a $50 billion entry on Wall Street. Launched in 2013 by an international trio of fintech entrepreneurs, the Sao Paulo neobank will make its initial public offering on the New York Stock Exchange on December 9, consolidating its meteoric rise. Nubank is hoping to raise some $3 billion in its IPO, for a total valuation of more than $50 billion, which would make it Latin America's biggest bank, surpassing traditional Brazilian bank Itau Unibanco. It is the latest headline-grabbing moment for the disruptive upstart, which also wooed a $500 million investment from legendary investor Warren Buffett's Berkshire Hathaway in June.