Tencent’s $90 million Investment in Brazil fintech Nubank

Clifford Chance, Ogier, K&L Gates and Pinheiro Neto advised on the deal

Tencent’s investment brings the total amount of funding raised to $420 million over seven funding rounds since Nubank’s launch in 2013.

Tencent is one of the world’s biggest companies by market capitalisation and operates digital services including mobile games, e-commerce, online payment systems – including WeChat, a Chinese messaging app with more than a billion monthly active users.

Nubank is a Brazilian fintech firm offering an app-backed credit card service.

Clifford advised Tencent. Ogier advised on the Cayman law aspects of the deal with a team including Giorgio Subiotto (Picture), Tommy Tuohy, Tim Cone, and Praajakta Pargaonkar.

Pinheiro Neto advised Nubank with a team including Bruno Balduccini and Caroline Guazzelli Queiroz Gomes

Nubank was also advised by K&L Gates with a team led – according to informed sources – by Eric Save

Involved fees earner: Giorgio Subiotto – Ogier LLP; Tim Cone – Ogier LLP; Praajakta Pargaonkar – Ogier LLP; Tommy Tuohy – Ogier LLP; Bruno Balduccini – Pinheiro Neto; Caroline Guazzelli Queiroz Gomes – Pinheiro Neto; Eric Save – K&L Gates;

Law Firms: Ogier LLP; Pinheiro Neto; K&L Gates;

Clients: Tencent Holdings Inc.; NuBank;