Today In Payments Around The World: Brazilian FinTech Nubank Notches $400 Million; Didi Chuxing Raises $300 Million For Self-Driving Autos
In today’s top payments news around the world, Brazilian financial technology firm Nubank has raised $400 million in a Series G funding round, while Chinese ride-hailing company Didi Chuxing has landed $300 million for its autonomous driving division. Plus, Scalapay has notched $48 million in a funding round.
Nubank has landed $400 million in a Series G funding round headed up by Invesco, Whale Rock and Singapore’s GIC. In addition, Sequoia, Ribbit Capital, Dragoneer and Tencent participated in the round. The company’s overall funding as of now is $1.2 billion, with a valuation of $24 billion. Nubank, which was established in 2013, is now the world’s largest independent digital bank when it comes to the number of clients. The new infusion will be harnessed for investments in Brazil and advancing operations in Colombia and Mexico.
Didi Chuxing has notched $300 million for its self-driving division, adding to the more than $500 million the unit landed in May. IDG Capital headed up the fundraising, with participation from CCB International, Guotai Junan International, the Russia-China Investment Fund and CPE. Didi began piloting and developing self-driving autos in 2016. It has open-road testing licenses in Suzhou, Shanghai, Beijing and California. The firm also recently notched $1.5 billion for its new freight operation.
Scalapay, the buy now, pay later (BNPL) offering, has landed $48 million in a funding round. Fasanara Capital headed up the round, which was supported by Ithaca Investments and Baleen Capital. “This new funding allows us to support our pipeline of merchants across Europe and further our mission by giving merchants exciting tools to make their ecommerce experience magical,” Co-founder and Chief Executive Officer Simone Mancini said in a release. BNPL services have become popular as of late, especially as the pandemic has made people tighten their belts during economic volatility.