Saudi-backed SoftBank Plans To Acquire A Stake In Brazil's Nubank

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Nu Pagamentos (Nubank) has reached 8.5 million consumers and sold private shares with a $3.6 billion valuation.

(Bloomberg) --SoftBank Group is in preliminary talks to acquire a stake in Brazilian fintech firm Nubank, which counts Goldman Sachs Group and Sequoia Capital among its backers. 

The talks involve other potential investors and still do not have a specific figure.

A Nubank official said that the start-up is always assessing opportunities for new funding.

At its current growth rate, the company will soon become the fourth-biggest card issuer in Latin America’s largest economy and it is also planning to expand abroad with a Mexican unit.