Sequoia Capital and Brazil’s Neobank Nubank to Team Up

Brazilian fintech Nubank and venture capital firm Sequoia Capital are teaming up for future investments in Latin America’s startups

Sequoia Capital and Brazil’s neobank Nubank to team up.

Brazilian fintech Nubank and venture capital firm Sequoia Capital are teaming up for future investments in Latin America’s startups, two sources familiar with the matter said on Monday.

For the venture capital firm, the agreement adds a partner with a presence in four countries in the region – Brazil, Mexico, Argentina and Colombia – and with experience in scaling up businesses, the sources said. For Nubank it adds a partner with global experience in investing in startups.

The sources did not disclose the amount they plan to invest in the region or how they will split funding rounds but the Sequoias Capital Nubank team-up is a boost to the region. Under the terms of the agreement, both companies may also invest in startups separately.

In August, Nubank and Sequoia Capital partnered in a $44 million funding round for Indian digital bank Jupiter, along with Matrix Partners.