TCV to invest $400m in Nubank in Series F funding.

Technology Crossover Ventures has invested $400m in Nubank, the leader in financial technology in its Series F investment round. The round was led by TCV, one of the largest growth equity firms based in the US, and marks TCV’s first significant investment in Latin America. Existing investors Tencent, DST Global, Sequoia Capital, Dragoneer, Ribbit Capital, and Thrive Capital also participated in the round. The transaction is subject to customary closing conditions. “With this new investment by TCV and our existing investors, we expect to contribute to meaningfully change this situation by accelerating our growth in Brazil and supporting the launch of our new Latin American markets,” David Vélez, Nubank founder and CEO.