Buffett-backed Nubank to seek IPO valuation of over $55 billion -sources

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By Anirban Sen and Carolina Mandl
BANGALORE/SAO PAULO (Reuters) -Brazil's Nubank is seeking a valuation in its planned U.S. initial public offering that would push the eight-year-old fintech past the $55.4 billion value of the country's top traditional lender, two sources familiar with the matter said.
In a recent funding round led by Warren Buffett's Berkshire Hathaway Inc, Nubank was valued at $30 billion. With 40 million clients in Latin America, Nubank is the latest of several fast-growing financial services companies - often serving customers overlooked by banks - grabbing investors' attention.
If Nubank is listed at a market cap greater than Itau Unibanco Holding SA's $55.4 billion, it would vault into the ranks of the world's largest fintechs, ahead of recently listed Robinhood Markets Inc, for example.
One source said that in ...


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