Brazil numberBank Nubank announced on Tuesday that Warren Buffett (Warren Buffett) 's Berkshire Hathaway(Berkshire Hathaway), the company, has invested $500m in the parent company of the Brazilian-based private digital bank.

Nubank was founded in 2013 and currently has about 40 million users.

The company's CEO said it had no plans for IPO at the moment, but did not rule out the possibility that it would be carried out in the future.

Buffett is no stranger to investment finance companies because traditional banks and insurance companies make up a large proportion of Berkshire's portfolio.

However, securities filings show that by the end of the first quarter, Buffett had sold him at Wells FargoAlmost all shares in (Wells Fargo).