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Payments NewsFintech Powerhouse Nubank Buys U.S. Software Firm Cognitect

Nu Pagamentos SA , a seven-year-old company that’s grown into the world’s biggest standalone digital bank, purchased a U.S. software consulting firm in its first acquisition outside of Brazil. Chief Executive Officer David Velez said his company, known as Nubank and backed by Tencent Holdings Ltd. , bought Durham, North Carolina-based Cognitect Inc. He didn’t disclose terms. Velez said in an interview that Nubank already uses Cognitect services.”

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