Nubank reaches the milestone of 80 million customers in Latin America
April 25 2023 - 9:41AM
Business Wire
In the Brazilian market, Nubank ended the first
quarter with more than 9 million investor customers and a 36%
increase in AuC in one year, totaling R$ 47.6 billion (US$ 9.6
billion)
Nubank, one of the world's largest digital financial services
platforms, reached on the first week of April 2023* the milestone
of 80 million customers in Latin America, where it maintains
operations in Brazil, Mexico, and Colombia.
The Brazilian operation ended March with a growth of 31.5% in 12
months, reaching more than 75.2 million customers, including the
SME (Small and Medium Enterprises) segment. The number of
entrepreneurs with a Nubank PJ (legal entity) account surpassed 2.7
million, corresponding to a jump of more than 66% also in one
year.
The first three months of 2023 have represented significant
progress for Nu México and Nu Colombia, which registered more than
3.8 million customers together – a 66% increase in one year. These
two Nubank operations also started to diversify their product
portfolio beyond the credit card with the implementation of Cuenta
Nu, which is being gradually made available to the Mexican customer
base. Meanwhile, Nu Colombia continues to work on the development
of new financial services and savings products.
"We added around 5 million customers to our base in just over a
quarter, always with a great contribution from the Brazilian
operation and increasing adherence by Mexicans and Colombians. The
80-million-users milestone reveals the operational efficiency and
capacity of Nubank in balancing global expansion and portfolio
diversification to have more and more engaged customers,"
highlights David Vélez, CEO and founder of Nubank.
"This growth is naturally reverted into an increase in revenue
per customer, structured around three pillars for the development
of our products: Banking-Spending-Savings. Based on the premise
that money involves all aspects of a person's life, we are
creating, at a global level, a new category among fintechs, which
can be described as 'Money Platform', a technological platform
whose objective is that the customer sees the optimization of money
for their own benefit," he adds.
Brazil: new credit products and growth of the investor
base
Amidst the customer base growth, Nubank saw its number of
investor customers in Brazil increase by 130% in the comparison
between the end of the first quarter of 2023 and the end of the
first quarter of 2022. There are already more than 9.2 million
active users in investments, placing the company as the largest
100%-digital investment platform in Latin America. The jump in AuC
(assets under custody) was around 36%, reaching more than R$ 47.6
billion (US$ 9.6 billion) in one year.
During the first quarter of 2023, Nubank expanded its credit
strategy with another step in the tests of NuConsignado, the
company's payroll-deductible loan program. Currently, the product
is being gradually made available to the customer base of federal
civil servants to enhance the offer of sustainable credit for the
business and further engage a significant portion of the customer
base. According to an internal survey, more than 30% of the
financial volume of payroll-deductible loans, whether public or
private, in the Brazilian market is handled by customers who
already have a relationship with Nubank.
The company also advances in the granting of collateralized
credit. The most recent is Nu Limite Garantido, Nubank's first step
to increase credit card limits based on different investments. In
November last year, it announced a first version of a
collateralized loan in which the guarantee comes from applications
from eligible customers for the personal loan in the Resgate
Planejado (locked deposits) feature, whose amounts continue to
yield.
*Total customers at the end of the first quarter of 2023 were
79.1 million – an increase of around 33% in 12 months.
About Nubank
Nubank is one of the world’s largest digital banking platforms,
serving around 75 million customers across Brazil, Mexico, and
Colombia. As one of the leading technology companies in the world,
Nubank leverages proprietary technologies and innovative business
practices to create new financial solutions and experiences for
individuals and SMEs that are simple, intuitive, convenient,
low-cost, empowering, and human. Guided by a mission to fight
complexity and empower people, Nu is fostering the access to
financial services across Latin America, connecting profit and
purpose to create value for its stakeholders and have a positive
impact on the communities it serves. For more information, please
visit www.nubank.com.br
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version on businesswire.com: https://www.businesswire.com/news/home/20230425005786/en/
Investors Relations Jorg Friedemann investors@nubank.com.br
Media Relations Leila Suwwan press@nubank.com.br
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