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Brazil's C6 Bank raises $248 mln in new funding round

·1 min read

By Aluisio Alves

SAO PAULO, Dec 2 (Reuters) - Brazilian digital lender C6 Bank raised 1.3 billion reais ($247.84 million) in a new funding round which values it at 11.3 billion reais, according to a statement on Wednesday.

C6 Bank said 40 individuals and families participated in the funding round, but did not disclose their names.

The funding round comes few months after the bank raised 525 million reais in fresh capital with its key shareholders

The bank, which has 4 million clients, plans to use the proceeds to grow its client base and launch new products and services.

Chief Executive Marcelo Kalim told Reuters that the bank is considering filing for an initial public offering in 2021.

($1 = 5.2454 reais) (Reporting by Aluisio Alves, writing by Carolina Mandl Editing by Marguerita Choy)