A Buffett-backed Brazilian fintech firm is reportedly planning a $2 billion US IPO

• Brazilian fintech Nubank may launch an IPO worth more than $2 billion on Nasdaq, $4
• Warren Buffett's Berkshire Hathaway bought a $500 million stake in the company in June.
• Nubank is seeking a valuation of more than $40 billion, the report said.

Brazilian digital bank Nubank, which has a multimillion-dollar investment from legendary investor Warren Buffett's company, is planning an initial public offering of more than $2 billion in the US stock market, $4.

The fintech, legally named Nu Pagamentos SA, is aiming to launch its IPO on Nasdaq by the end of 2021 and it may seek a valuation of more than $40 billion, sources told Bloomberg in a report published Thursday.

The Sao Paulo-based company's valuation ballooned to $30 billion after Buffett's $4 bought a $500 million stake in the company in June, adding to the conglomerate's investments in private technology companies. Nubank runs digital payment accounts for more than 40 million clients and has a Mastercard-branded credit card.

A valuation of more than $40 billion would leave Nubank as Latin America's second-most valuable financial institution, behind Brazil's $4.

Talks about launching a US IPO are ongoing, the report said, adding that Nubank declined to comment.

Berkshire Hathaway's investment in private tech includes a $4 that is expected to go public this year. Last year, it purchased millions of shares of cloud-data platform $4 before it $4.

Nubank going public would add to an already packed year of trading debuts worldwide. The $4 entering the public markets in more than 20 years, with 597 IPOs launched, according to consulting firm EY. $4, the Chinese ride-hailing service, was the biggest IPO by proceeds that quarter, drawing in $4.4 billion with its Nasdaq debut.