Nubank attracts US $ 400 million in new G Series funding round to expand operations in Colombia and Mexico

January 28, 2021
Por
Nubank
Nubank
Nubank
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Nubank
The so-called G Series, in addition to allowing new investments in Brazil, will be focused on expanding operations in Mexico and Colombia. With it, Nubank is today one of the five most valuable financial institutions in Latin America.

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On Thursday, January 28, 2021, Nubank announced yet another milestone: a new $ 400 million investment round focused on supporting its international growth. As a result, Nu becomes one of the five most valuable financial institutions in Latin America.

The value will allow for even more investments in Brazil, as the product offering continues to grow. However, as Nubank's operations in the country have had positive cash flow since 2018, the amount raised in 2021 will mainly support Nu's expansion in Mexico and Colombia. There, they have also started to free people from the bureaucracy of the financial system with their purple credit card.

Nubank continues to grow to increasingly support its customers. Since their last investment round, in July 2019, they have almost tripled the number of users in Brazil - from 12 million to 34 million people; they also launched new products, expanded in Latin America and made three important acquisitions - PlataformaTec, Cognitect and Easynvest.

Today Nubank is the largest independent digital bank in the world in terms of number of customers: 34 million users.

Nubank's new investment round, called the G Series, was attended by some of the most important global investors, such as GIC, Whale Rock and Invesco.

Former Nubank investors such as Sequoia, Tencent, Dragoneer and Ribbit also participated in the round..

Nubank investment round: global confidence in their mission

Nubank was born with a great mission: to give people back control over their financial life. Without bureaucracy, without abusive rates and with incredible customer service, they showed the market that it was indeed possible to offer financial products in a fair and transparent manner.

They started as a small startup in São Paulo, 2013, offering a credit card with no annual fee and completely controlled by the app. Following the model of success of large global technology companies, they chose to reinvest their revenues in Nubank itself and raise funds with investors in order to accelerate their growth. Theiy are happy with the success of this choice.

Today, in Brazil, Nubank has a series of products - such as a digital account, debit function, points program, loan and account for PJ. They have customers in every municipality in the country - in addition to operations in Mexico and Colombia and engineering offices in Argentina, Germany and the United States.

The G series, the new investment round of 2021, comes precisely to support this international expansion in Latin America. And the presence of so many former investors reinforces that they are on the right track: making choices focused on our customers and helping them to expand in a solid way.

Impact of Nubank

Over the past 7 years, Nubank has helped to change the Brazilian financial market: they have saved their clients more than R $ 15 billion in fees by cutting red tape and abusive charges. In addition, they helped the financial inclusion of millions of people - about 20% of our customers had never had a credit card before Nubank.

It is this type of impact that they want to bring to Latin America, a region with about 50% of the population unbanked and in which a handful of traditional banks control more than 70% of the market.

In Mexico, more than 1 million people have already applied for the Nubank card - and in Colombia, their roxinho waiting list already has more than 200 thousand subscribers a few months after their arrival in the country.

Las opiniones compartidas y expresadas por los analistas son libres e independientes, y de ellas son responsables sus autores. No reflejan ni comprometen el pensamiento u opinión de Latam Fintech Hub, por lo cual no pueden ser interpretadas como recomendaciones emitidas por la platafomra. Esta plataforma es un espacio abierto para promover la diversidad de puntos de vista sobre el ecosistema Fintech.

On Thursday, January 28, 2021, Nubank announced yet another milestone: a new $ 400 million investment round focused on supporting its international growth. As a result, Nu becomes one of the five most valuable financial institutions in Latin America.

The value will allow for even more investments in Brazil, as the product offering continues to grow. However, as Nubank's operations in the country have had positive cash flow since 2018, the amount raised in 2021 will mainly support Nu's expansion in Mexico and Colombia. There, they have also started to free people from the bureaucracy of the financial system with their purple credit card.

Nubank continues to grow to increasingly support its customers. Since their last investment round, in July 2019, they have almost tripled the number of users in Brazil - from 12 million to 34 million people; they also launched new products, expanded in Latin America and made three important acquisitions - PlataformaTec, Cognitect and Easynvest.

Today Nubank is the largest independent digital bank in the world in terms of number of customers: 34 million users.

Nubank's new investment round, called the G Series, was attended by some of the most important global investors, such as GIC, Whale Rock and Invesco.

Former Nubank investors such as Sequoia, Tencent, Dragoneer and Ribbit also participated in the round..

Nubank investment round: global confidence in their mission

Nubank was born with a great mission: to give people back control over their financial life. Without bureaucracy, without abusive rates and with incredible customer service, they showed the market that it was indeed possible to offer financial products in a fair and transparent manner.

They started as a small startup in São Paulo, 2013, offering a credit card with no annual fee and completely controlled by the app. Following the model of success of large global technology companies, they chose to reinvest their revenues in Nubank itself and raise funds with investors in order to accelerate their growth. Theiy are happy with the success of this choice.

Today, in Brazil, Nubank has a series of products - such as a digital account, debit function, points program, loan and account for PJ. They have customers in every municipality in the country - in addition to operations in Mexico and Colombia and engineering offices in Argentina, Germany and the United States.

The G series, the new investment round of 2021, comes precisely to support this international expansion in Latin America. And the presence of so many former investors reinforces that they are on the right track: making choices focused on our customers and helping them to expand in a solid way.

Impact of Nubank

Over the past 7 years, Nubank has helped to change the Brazilian financial market: they have saved their clients more than R $ 15 billion in fees by cutting red tape and abusive charges. In addition, they helped the financial inclusion of millions of people - about 20% of our customers had never had a credit card before Nubank.

It is this type of impact that they want to bring to Latin America, a region with about 50% of the population unbanked and in which a handful of traditional banks control more than 70% of the market.

In Mexico, more than 1 million people have already applied for the Nubank card - and in Colombia, their roxinho waiting list already has more than 200 thousand subscribers a few months after their arrival in the country.

Las opiniones compartidas y expresadas por los analistas son libres e independientes, y solamente sus autores son responsables de ellas. No reflejan ni comprometen el pensamiento o la opinión del equipo de Latam Fintech Hub y, por lo tanto, no pueden interpretarse como recomendaciones emitidas por la plataforma. Esta plataforma es un espacio abierto para promover la diversidad de puntos de vista en el ecosistema Fintech.
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