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Note: The round was confirmed post-publication. For more details, read our July 29聽update.

Fintech startups in Latin America are attracting huge sums of capital, and NuBank is the latest recipient.聽

As reported , Brazil-based Nu Pagamentos SA, , is aiming to raise $400 million at a valuation of $10 billion from , a California-based growth fund with 340 reported investments under its belt, . VCs in the Latin America region, in general, seemed to be attracted to fintech startups:

If Nubank closes the round with TCV, the firm鈥檚 total funding would come to $1.1 billion, putting it just behind , an ecommerce shop, as the most funded Latin American startup to date.聽

Notably, SoftBank did not participate in the deal, even though the telecom giant is on track to raise a second Vision Fund worth $108 billion, and has announced plans . In June, SoftBank invested in two other Brazilian startups: Loggi and Creditas. In fact, Brazil captures a large portion of funding in the region, as the chart below shows:

If more deals like Nubank鈥檚 $400 million round continue, Latin America is going to be a hard region for anyone involved in the tech community to ignore. As Mary Ann Azevedo reported in April, Latin America has 鈥渁rrived鈥� among global VCs. , director of venture capital for LAVCA, told Crunchbase News that 鈥渢he presence of global investors鈥� has driven increased interest in the region.聽

For founders, hopefully that interest converts to more term sheets.