Nubank

Nubank is a leading financial technology company in Latin America. Its first product, launched in 2014, is a no-fee credit card that is fully managed by a mobile app.  A reported 30 million people have requested the product since launch, and the company has passed the 12 million customer mark. 

In 2017, Nubank launched its proprietary loyalty rewards program (“Nubank Rewards”), as well as a digital account (“NuConta”) that is already used by 8 million people. 

In 2018, four years after the company experiences its first transaction with a Nubank card, Nubank became a unicorn. Less than a year later, the company became a decacorn. 

In 2019, the company began testing its personal loan product and took its first steps in international expansion, opening offices in Mexico and Argentina through a subsidiary called Nu. 

Later in December 2022 started introducing a new coverage option for its banking users following the launch of life insurance and mobile phone insurance. The new coverage will be underwritten by Chubb, and it protects users against unwanted digital transactions when a phone is stolen or if a user is under a threat.

To date, Nubank's investors include TCV, Sequoia Capital, Kaszek Ventures, Tiger Global Management, QED, Founders Fund, DST Global, Redpoint Ventures, Ribbit Capital, Dragoneer Investment Group, Thrive Capital and Tencent. Its most recent round, July 2019's Series F, raised $400m and valued the company at above $10bn.

Cristina Junqueira, David Velez, and Edward Wible founded EO2 Solucoes de Pagamento on May 6, 2013 which became Nubank in on June 25, 2013. It has its headquarters in São Paulo in Brazil, and also has offices in Berlin and Mexico City.