Pinheiro Neto advises Nubank on Tencent investment

Brazilian law firm Pinheiro Neto advised local fintech company and credit card issuer Nubank on Chinese investment firm Tencent Holdings’ $90 million investment in the company.

The deal is part of a strategic alliance between the two companies, and Tencent’s investment brings the total amount of funding raised to $420 million over seven funding rounds since Nubank’s launch in 2013, according to local media.


São Paulo-based Nubank is currently placed as one of the top five credit card issuers in Brazil.

Nubank’s founder David Vélez was quoted as saying by local media that the aim of the deal with Tencent is to enable access to the Chinese company’s expertise to make its products even more pervasive among local consumers.

“Tencent’s experience in creating the future of financial services is unparalleled globally,” Vélez said. “Since our goal is to expand our reach even more and offer a product to every Brazilian, we hope to learn a lot with Tencent’s experience in China.”

Pinheiro Neto partner Bruno Balduccini and associate Caroline Guazzelli Queiroz Gomes advised Nubank on the investment. The company was also advised by K&L Gates and its in-house counsel. 



Tencent was advised by Clifford Chance and Graça Couto.