Brazil’s Nubank raises $2.6 billion in NYSE IPO

It was a prophetic post back in October.

“First, they ignore you. Then they laugh at you. Then they fight you. Then you win,” read the post by Colombian entrepreneur David Velez two months ago. 

Disenchanted with what he described as a dreadful bank experience in Latin America, Velez founded Nubank in 2013 with the idea of taking on big banks in Brazil and leveraging technology to change how financial products are served in the country radically.

Bloomberg News reported that the company raised $2.6 billion in their U.S. IPO on Wednesday.

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  • John has been in communications since graduating from Creative Communications at Red River College Polytechnic in Winnipeg in 1992. He launched one of Canada's first digital-only local news sites called Winnipeg First in 2007, which led to digital editor postings with the Winnipeg Free Press and Edmonton Journal. In 2012 he joined Bankless Times as managing editor, later becoming president and CEO. He and the Bankless Media co-founders completed a sale and exit in August 2021.