Nubank Company Intelligence

Nubank is a Brazil-based neobank with +50 million users. It is the biggest neobank by market capitalization in Latin America, with operations in Brazil, Mexico and Columbia. Nubank noted that the company was “born to give people back control over their financial lives.” With a goal to revolutionize the bureaucratic financial system, the company focuses on providing transparency, simplicity and efficiency for its users through its easy-to-use digital products. Nubank identified three main issues with the traditional banking system: (1) expensive fees, (2) bureaucracy of the big banks and (3) poor customer service. To tackle those issues, Nubank provides a competitive fee structure, transparent terms/conditions and 24/7 customer support for its customers. From 5 million customers in 2019 to +50 million users in 2022, Nubank experienced rapid growth in the past few years. Since its inception in 2013, Nubank has raised ~$3.9 billion in private funding (equity and debt rounds). In December 2021, Nu Holdings, Nubank’s parent company, went public on the New York Stock Exchange and the São Paulo Stock Exchange. 

Nubank’s Roxinho credit card is a 100% digital card (controlled by the Nubank app) free of any maintenance or annual fees. Typical credit card functions such as requesting limit increases, blocking the card, activating international payments and changing expiration dates can be directly done through the app.