Fintech Nomad Lands Series-B Round of $61 Million for The Largest Fintech Equity Finance Deal of the Year in Latin America

The Series-B equity finance was led by the Tiger Global

Fintech Nomad lands Series-B round of $61 million (about BRL 300 million) led by investment fund Tiger Group with participation of Monashees, Spark Capital, Stripes and Global Venture, the company reported on Tuesday.

The fintech has already raised nearly BRL half a billion since its inception. In may of last year the company received $32 million (about BRL 160 million) in an investment round led by Stripes. This Series B round sets the company’s valuation at BRL 1.8 billion.

Next Step after Fintech Nomad Lands its Series-B Equity Round

According to executives of Fintech Nomad, the Series-B funds will be used to expand its global investment platform and to launch new products, including in the area of credit cards.

The new funding marks the return of investments in Brazil by the Tiger Group, which also invested in companies such as Nubank, Brex and Open AI.

Behind Nomad are experienced and recognized names in the innovation and technology space: Lucas Vargas led Grupo ZAP for eight years, Patrick Sigrist is one of the founders of iFood, and Eduardo Haber has a long career in the financial sector.

Nomad offers to Brazilians a bank account in the United States with a debit card for use in more than 180 countries, and access to a platform for investments in the U.S. Since the beginning of the year the company has exceeded BRL $1 billion in volume processed in card transactions and BRL 5 billion in international money transfers.

According to Nomad’s co-founder and Chairman of the Board, Patrick Sigrist, Brazilians are learning the importance of having part of their assets invested abroad.

The Esquires and the Firms Behind the Deal

Foley & Lardner LLP acted as legal counsel to Nomad.

The author of  Latin America’s Investment Boom and the Pitfalls of American Jurisdiction Silicon Valley partner Andre Thiollier led Foley’s deal team and included corporate associates Ashley Youn-Jae Lee and Trevor Mulin. 

Foley & Lardner, LL.P is a US-based full service global law firm with over 25 offices around the globe.

Wilson Sonsini  acted as legal counsel to Tiger. 

New York partner Salil Gandhi led the firm’s deal team with contribution from associates Maurice Guttmann, Alyson Tseng and Casey Anderson.

Language Abstracts

[Portuguese] Fintech Nomad Fecha Rodada Series-B de US$ 61 milhões de dólares para o maior negócio de Equity Finance para Fintechs do ano na América Latina

[Spanish] Fintech Nomad Lands Series-B Round de $ 61 millones dólares para el mayor acuerdo de Fintech Equity Finance del año en América Latina