Nu reached reached 10 million customers in Mexico, double the number from just one year ago. Since entering the market, the local portfolio expanded from a credit card to multiple products, such as a savings account with Cajitas (Money Boxes), a debit card, as well as personal loans, and now Nu caters to over one in ten Mexican adults (12%). 

The company has also been able to adapt its business model to fit the needs of the local market, which is still heavily reliant on cash. One example is its robust cash withdrawal and deposit network, which now extends to over 30,000 physical contact points following the recent addition of OXXO stores through a partnership.   

In Brazil, Nu is now the 3rd-largest financial institution in number of customers, according to Brazilian Central Bank data. The company also stands with the lowest rate of complaints.

Nu announced a US$150 million investment in Tyme Group as the lead of their series D funding round in December. Tyme Group is one of the fastest-growing digital banks globally, with 15 million customers and operations in South Africa and the Philippines. With this investment, Nubank becomes a minority shareholder in Tyme Group.  

NuCel Rollout. After an initial phase, NuCel is gradually rolling out to customers in Brazil, first to those who have expressed interest in acquiring it. Customers will be able to transfer their numbers seamlessly, with flexible and transparent plans and no fixed commitment requirements.

USDC Rewards. All Nubank Crypto customers in Brazil now have access to a rewards program that grants daily returns on a minimum balance of 10 USDC in their wallets. 

SME Instant Payments. SME customers now get instantly paid for the transactions using Tap to Pay. Additionally, the Payment Link feature for facilitated online payment is now available to all the SME base. 

Interest rate cap in Colombia. Nu Colombia collaborated in a study that shows the negative impact of the interest rate cap on both individuals and SMEs. “Nearly 4 out of every 10 low-income Colombians resort to informal lenders paying rates up to 360%. The rate cap needs review because it’s the type of public policy that starts with good intentions but ends up significantly hurting those it seeks to help”, stated David Vélez, Nu’s founder and CEO.

Día de la Cajita. Inspired by Boxing Day, Nu Mexico created “Money Box Day”, or Día de la Cajita, in Spanish. The goal is to promote savings and financial planning for the year ahead.

David Vélez spoke to Roelof Botha, Managing Partner of Sequoia Capital, for the Crucible Moments podcast. Douglas Leone, Partner at Sequoia, and Cristina Junqueira, and Edward Wible, Nu's cofounders, also participated in telling the story of Nu and the main challenges and triumphs that have shaped the company so far.

In Davos for the World Economic Forum, David commented on the challenging macro scenario in Brazil due to high interest rates, and reinforced that Nu is well prepared to deal with adverse conditions, stating that we foresee continued growth in credit.

Nu announced a US$150 million investment in Tyme Group, one of the fastest-growing digital banks globally. Forbes analyzes the impact on banking competition in Southeast Asia.

Valor Econômico states that 2024 will be marked as the year Nu surpassed Itaú in market value, establishing itself as the most valuable financial institution in Latin America.

Nubank was featured by Bloomberg Línea among the top 10 companies expected to stand out in 2025 through expansion plans. According to the Digital Influence Radar survey, by MIT Tech Review, the Tec Institute and Bendita Imagem, Nu is among Brazil's most influential brands in connecting with the public. 

Nu was also the most remembered bank for AI in Datafolha's "The Best of the Internet" survey. Vitor Olivier said the company has been using AI to offer better and more accessible products and services at scale.

StartSe highlighted how the strategic integration of artificial intelligence into Nu's operations generated efficiency and savings.

Livia Chanes, Daniel Silva, Felipe Lamounier, and Felipe Meneses were included in Bloomberg Línea's 2024 list of the 100 Innovators in Latin America. Época Negócios highlighted Nubank’s acquisition of Hyperplane among the most relevant deals of 2024. 

IstoÉ Dinheiro magazine published an article assessing the prospects of the ETF market in Brazil, with comments from Andrés Kikuchi.

Mexico currently has multiple institutions, including Nu, in the process of obtaining a banking license. El Economista listed their progress and analyzes this scenario.

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

Thank you for reading! For more information, please contact our PR team through press@nubank.com.br. Access our Investor Relations website.

If you prefer not to receive any further communications from us, please unsubscribe.