Nubank Acquires Hyperplane

Hyperplane, a San Francisco-based data intelligence startup that is building foundation models for banks, announced that it has been acquired by Brazil’s Nubank. Hyperplane was founded in 2022 by Daniel Silva, Felipe Lamounier, Rohan Ramanath and Felipe Meneses. Hyperplane focused on allowing banks to train their own models to power tools across their risk, collections and marketing departments. Now, the team will continue this work at Nubank, the largest digital banking platform outside of Asia, which reported revenues of over $2.7 billion last quarter. Nubank has more than 100 million customers in Brazil, Mexico and Colombia, which, in the context of this acquisition, also means that it has more banking data to help it power personalized services than virtually any other company.