Nu Holdings closed 2024 with 114 million customers in Latin America, and delivered $11.5 billion in revenues in the year. With a fully digital business model, the company has been capable of maintaining a low cost to serve (under US$ 1), and increasing (FXN) average revenue per active customer (ARPAC) to US$ 10.7. This combination led to a 110% growth in net income FXN, to almost $2 billion in the year. 
 

The Q4 and FY’24 earnings were also positively impacted by consistent progress in all the company’s priorities for last year. Nu Mexico reached 10 million customers, the secured lending portfolio in Brazil expanded by 615%, the Ultravioleta (high-income) customer base grew by 132%, and the company enhanced its Money Platform with the launch of NuTravel and NuCel, diversifying its offerings and strengthening Nu's ecosystem while expanding our market reach. 

“As we prepare to scale up our products and services globally, we remain focused on execution, customer-centric innovation and sustainable growth in our current markets", said David Vélez, founder and CEO of Nubank.
 

In the first episode of our 2025 Nu Videocast series, founder and CEO David Vélez discusses Nu’s strategy and the company’s short and long-term priorities. He details the three acts of Nu, that encompass growth in Latin America, new verticals, and future plans of global expansion.

Available on YouTube and Spotify.

Nubank Ultravioleta Lounge. Customers in the Ultravioleta (high-income) segment in Brazil can now enjoy an exclusive lounge at the São Paulo International Airport – Guarulhos. The space is over 1.000 square meters and offers workstations, as well as relaxation spaces, including a game room. Food, beverages, and coffee are powered by top partners in the country.

Locked Money Boxes. Nu Colombia launched CDTs Nu, a new investing alternative that allows customers to lock money in Cajitas (the local Money Boxes) at higher yields.

Safety for Carnaval. The Protection Hub in the Nubank app offers multiple security features for customers in Brazil to add layers of safety to their accounts during Carnaval festivities, when mobile theft tends to rise. Modo Rua (Street Mode), for example, saw a 157% increase in adoption this time last year.

Burger King partnership. Nubank customers in Brazil are getting special perks at Burger King, in a partnership between the two companies. The fast food chain’s flagship store in Avenida Paulista was painted purple especially for the occasion.

Valor shared Nu’s record earnings for Q4 and FY’24, highlighting the 54% absolute growth in adjusted net income, or 87% FXN. El Tiempo, in Colombia, explained how best-in-class efficiency positively impacted those results and, in Mexico, El Universal shared Nu Mexico’s results, namely the 91% growth in the local customer base. Reuters addressed Nu’s global expansion plans.

Vitor Olivier, CTO, spoke to Global Finance Magazine about how AI has been helping Nu gain a competitive edge and assist customers in making informed financial decisions.

In a conversation with Forbes, Nu Brazil CEO Livia Chanes explored her professional journey, leadership style, and her role in leading Nubank's operations in Brazil.

Marcela Torres spoke with Bloomberg Línea about how, eight months after the launch of Cuenta, Nu Colombia became one of the four largest institutions in terms of deposit volume in Colombia. Valora Analitik also published an article about her professional journey.

Following the celebration of 10 million customers in Mexico, General Manager Iván Canales was interviewed by La Razón, which highlighted the advantages of Nu’s digital model, particularly in the inclusion of customers in remote areas.

Nu Mexico is among the best brands in the country in 2025 by YouGov and Merca2.0, standing out as the fastest-growing in 2024 due to its agility and flexibility. El Imparcial mentioned Nu Mexico as one of the best debit card providers, based on performance and returns. 

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