Nubank now has more than 70MM customers across its three operations in Latin America, having recently reached milestones across its product portfolio, including Marketplace, Crypto, Investments, and more.

In this issue of our corporate newsletter, we bring innovation to safety with the development of Modo Rua and third-party research showing that Nu’s focus on security is recognized by customers. Also, two hiring programs, and launches for our SMEs and investor customers, among other updates.

Nubank reached the mark of 70 million customers in Latin America in early September. In Brazil, our first and largest operation, we now serve over 66.4 million people with a wide range of products. We have registered rapid growth not only in number of clients, but also in engagement and cross-sell, as exemplified by milestones in several products recently:

• Marketplace: More than R$1 billion enabled in purchases in 2022, and more than 10 million customers have been redirected to our partners via the Nu app; 
• Crypto: 1.8MM customers, in only three months after complete rollout;
• Money Boxes: More than 2MM “Caixinhas” created, registering 1.7MM customers only one week after the full rollout using the product that allows organizing investments in separate “boxes” with different objectives and timeframes and corresponding yields;
• Investments: 6MM customers reached, which positions Nubank as the largest digital investment platform in the country.

Internationally, Mexico and Colombia are also experiencing fast-paced growth. The Moradita (our credit card) has attracted 3.2MM customers in Mexico, where we reach more than 80% of rural areas. In Colombia, our youngest operation (with a little over 18 months), we have more than 400.000 card customers.

Driving innovations in safety. Nubank is further advancing its protagonism in financial services safety by starting the tests of Modo Rua (Street Mode), an original and innovative in-app tool that allows customers to determine a total limit for some types of transactions for when they are outside their home, in a less safe environment. The new feature adds to an already extensive list of security mechanisms that we offer customers so they can protect their accounts in situations that involve theft, fraud, and other scams. 

High sense of security. Research by Brazilian institute QualiBest highlighted that 88% of Nubank’s customers feel safe when making transactions in our app, placing Nu among the best-evaluated institutions. Besides a set of safety features, we have recently launched SOS Nu, a hub with information detailing the steps on how to prevent and act in cases of fraud-related incidents.

New investment fund. Nu Reserva Planejada is the newest addition to the Nu Reserva family of funds. Under Nu Asset Management, which currently serves more than 1 million shareholders, the fund is focused on the allocation of corporate credit securities and is an option for investors looking for a return considerably higher than the CDI with no need for daily liquidity.

Ultravioleta expansion. We are celebrating the first anniversary of our premium credit card by expanding the card’s offer. Anyone can have an Ultravioleta after a credit analysis, and clients are now exempt from paying the monthly fee if they have more than R$ 50,000 invested (through Nubank and/or NuInvest), or spend more than R$ 5,000 in the month.

Promoting our customer’s businesses. Nu is helping our more than 2MM SME customers get more clients with the launch of Páginas Roxas, a platform for entrepreneurs to promote their businesses for free to Nubank’s 70 million customer base.

Fifa World Cup. In addition to the first cultural contest that selected 15 customers to go to Qatar and watch eight World Cup matches, Nubank, an Official Regional Supporter of the tournament, is offering an extra chance for clients. We will select two more customers and take them to watch four matches in the round of 16 phase. To participate, interested parties must refer a new customer to Nu.

Recognitions. 

• Nubank ranked among the top 10 of Fortune’s Change the World list, which recognizes companies that generate a positive social impact through activities that are part of their core business strategy. 
• David Vélez and Cristina Junqueira were highlighted among the 500 most influential people in Latin America by Bloomberg Línea. The publication considers them examples of resilience in influencing progress in the region. 
• On the diversity and inclusion front, our D&I Global Director, Helena Berho, was recognized as one of the 100 most influential people of African descent in the world under the age of 40 (MIPAD).

Hiring interns… Nubank launched its first internship program with more than 70 vacancies in various areas. The selected interns, among 30.000 applicants in only ten days, will receive a stipend and benefits, plus access to an internal mentoring program and free English classes. 

… and full-time employees. Nubank is committed to building strong and diverse teams. We are also selecting employees through Hack Her Way, a recruiting event in tech and cybersecurity, exclusive for people who identify as women (cis or trans) or have a transfeminine gender identity.

Reuters highlighted that Nubank reached 70MM customers and mentioned that the Company is considered one of Latin America's chief proponents of expanding access to the financial system.

The milestone also made the news in the countries where Nu operates. Media outlets in Brazil, Mexico, and Colombia also included the growth in number of investors, Money Boxes, and crypto customers, as well as expansion plans. 

“In five to ten years, we aim to be one of the biggest financial institutions in Colombia,” said Nu’s founder and CEO in an interview with La Republica about future plans for the operation in the country. David also spoke to RCN and La Semana about the topic, in a period he spent in Colombia with Nu’s management team, closely following the operation in the country. 

Cristina Junqueira, co-founder and Brazil CEO, spoke about her career path and the creation of Nubank in an interview with the podcast CBN Professional.

“Nu’s goals are ambitious, its team is young, its strategy is fresh and its technology is cutting-edge. Its model is being copied, but all points to a comfortable advantage in Latin America”, states an article in El Heraldo.

“Prevention is more important than ever in the face of current public safety topics. Modo Rua is an innovative, intuitive, and simple feature, and another layer of protection in the very robust system we already have", says Cristina Junqueira in a quote used by Folha to inform of the feature launch.

QualiBest’s research showing that Nubank’s customers feel safe when making transactions in our app was first published by Extra in Brazil.

Nubank is expanding its product options for small businesses (PJ) and is preparing to offer credit to customers, said Livia Chanes, Brazil Country Manager, in an interview with PEGN about the segment.

Our latest launches also made the news in Brazil. Read more about Nu Reserva Planejada in Estadão E-investidor, and about the internship program and Hack Her Way in Exame.
 

(Articles in this section may be subject to a paywall and available to subscribers only, depending on the news outlet.)

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