- Nubank, founded in 2013, has raised $1.4 billion to-date and is one of the most valuable and well funded private tech startups in South America.
- The company has grown both its customer base and product offering in recent years to include investing beyond its original no-fee credit cards.
- “We’ve achieved a really large scale on existing products that we have with 30 million customers that makes us much larger than any other challenger in the world,” Nubank CEO David Velez told Business Insider in an interview.
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Fintech has been booming as the coronavirus pandemic forces a shift in how consumers interact with financial services. From banking, credit, investing, and beyond, digital players have seen a surge in activity.
Fast-growing Brazilian challenger bank Nubank has likewise benefited, growing customers from 5.9 million at the end of 2018 to 30 million now, CEO and cofounder