SA¹ú¼Ê´«Ã½

Here’s what you need to know today in startup and venture news, updated by the SA¹ú¼Ê´«Ã½ News staff throughout the day to keep you in the know.

Subscribe to the SA¹ú¼Ê´«Ã½ Daily

Nubank raises $2.6B, starts trading as NU

São Paulo, Brazil-headquartered made its debut on the today at a price of $9 per share, raising $2.6 billion. The IPO valued the Latin American credit card issuer and banking platform at $41.5 billion.

As of the first day of trading shares for Nubank opened 25 percent higher than its offer price, .Ìý

Investors with the largest stakes in the company at its IPO include , whose stake is worth just over $7 billion, ,Ìý and . Nubank was last valued at $30 billion in a funding led by in June 2021.Ìý

The company claims it has provided a first credit card or bank account to 5.1 million of its 48.1 million customers across three LatAm markets: Brazil, Mexico and Colombia.Ìý

Mobile banking platforms that are still private include London-based , San Francisco-based and Berlin-based .Ìý

— Gené Teare

Mambu raises $266M for banking SaaS

Berlin-based , a software-as-a-service provider for the banking industry, announced it raised 235 million euros ($266 million) in a Series E funding round led by .

The funding sets a valuation of around $5.5 billion for the 10-year-old company. It follows a sharp growth spurt, with Mambu attesting it delivered year-on-year growth of more than 120 percent in the third quarter of 2021.

The company currently employs more than 800 people and serves an international customer base which is active across 65 countries.

— Joanna Glasner

Hashicorp prices IPO above range

San Francisco-based , a provider of cloud infrastructure automation software, priced shares for its initial public offering at $80 each, above the projected range of $68 to $72. The offering raised $1.2 billion for the 9-year-old company, which will list on under the ticker symbol HCP.

— Joanna Glasner

Tradeshift lands $200M raise

San Francisco-based supply chain finance platform closed a $200 million round of funding and debt from existing and new investors, including , , , and . The company’s open-network model helps buyers and suppliers find, connect and transact with one another.

Founded in 2009, the company has raised more than $1 billion, according to SA¹ú¼Ê´«Ã½ data.

— Chris Metinko

Funding rounds

Pleo picks up $200M: Copenhagen-based , a provider of company payment cards and automated expense reporting for employees, raised $200 million in a Series C extension. led the financing, which sets a $4.7 billion valuation for the 6-year-old company.

— Joanna Glasner

Illustration: