Berkshire Hathaway Invests $500M in Brazilian Digital Bank Nubank

Berkshire Hathaway, led by renowned investor and bitcoin critic Warren Buffett, has made a $500 million investment in Brazilian digital bank Nubank.

In an announcement Tuesday, Nubank said the Berkshire Hathaway investment is an extension of the G Series funding carried out in January. Series G is the eighth fundraising event for a startup.
Nubank said in terms of its number of customers it has recently reached 40 million and, in the first five months of the year, it has grown at a pace of more than 45,000 new customers per day.
The digital bank has been recognized as an influential company in Latin America by TIME and one of the most innovative by CNBC.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Tanzeel Akhtar

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.