News

Brazil: Nubank Partners With SoftBank-Backed Lending Fintech Creditas

Source: KFGO

Brazilian financial startup Nubank has formed a partnership with SoftBank-backed lending fintech Creditas to offer loans to its clients, according to a joint statement on Monday.

Nubank said it may become a minority shareholder in Creditas with up to a 7.7 percent stake in the fintech in the next two years. The companies did not disclose the deal value. Recently valued at $30 billion in an investment round led by Warren Buffett’s Berkshire Hathaway Inc, Nubank said it also intends to invest to expand Creditas’ credit capacity in Brazil.