Nubank

About Nubank

Nubank was founded in 2013 by David Velez in Sao Paulo as a digital first credit card company. Nubank challenged the entrenched Brazilian banking oligopoly of Itau, Bradesco, and Banco do Brasil. The bank grew to over 100 million customers, becoming the largest digital bank in the world by customer count. Nubank went public on the New York Stock Exchange in 2021 at a 45 billion valuation. Berkshire Hathaway invested 500 million before the IPO. Nubank operates in Brazil, Mexico, and Colombia. The bank offers credit cards, personal loans, insurance, and investment products. Nubank demonstrated that a startup could disrupt a concentrated banking market by offering transparent fees and superior digital experience. It became one of the most valuable banks in Latin America.