Nu Pagamentos SA, the Brazilian fintech backed by billionaire Warren Buffett’s Berkshire Hathaway Inc., is planning an initial public offering of more than $2 billion on the Nasdaq for the end of this year, according to people familiar with the matter.
Nubank, as the firm is known, may seek a valuation of more than $40 billion, the people said, asking not to be identified because the transaction details aren’t yet public. Deliberations are ongoing, so the details may change. Nubank declined to comment.
