SAO PAULO, Jan 17 (Reuters) – Brazilian digital financial institution Nubank mentioned on Tuesday it secured a mortgage of as much as $150 million from the Worldwide Finance Corp, the personal lending arm of the World Financial institution, to develop its enterprise in Colombia.
The transfer is a part of a technique by Latin America’s largest fintech to rapidly set up itself in a number of the area’s key markets.
Warren Buffett-backed Nubank mentioned in an announcement that the mortgage has a three-year maturity and can be used to increase entry to monetary providers in Colombia, particularly amongst girls and minority teams.
“The mortgage is according to Nubank’s technique to change into the main digital monetary providers firm in Colombia,” the corporate mentioned. (Reporting by Aluisio Alves; Modifying by Leslie Adler)