Nubank
Digital banking · Brazil
Nubank is Latin America’s largest digital bank: from an app with no branches it gives 131 million customers in Brazil, Mexico and Colombia credit cards, loans, accounts and investments, earning mostly interest on cards and loans and on the deposits it holds.
What makes it different
A customer costs it less than a dollar a month.
US$0.8Monthly cost to serve per active customerFY2025
With no branches, Nu can profitably serve mass-market customers that big banks find too expensive.
How big it is
How big is Nubank?
US$15.8BRevenueFY2025
131.0MCustomers2025
10,027Employees2025
How it makes money FY2025
Interest on cards and loans leads.
- Credit incomeUS$9.4B
- Float incomeUS$4.1B
- Fee and commission incomeUS$2.3B
How the business works
No branches, cheap customers, profitable credit.
- 1Word-of-mouth app sign-ups
- 2Under US$1 monthly cost
- 3Cards and personal loans
Serving a customer costs under a dollar a month, so cards and loans to the mass market can still pay off.
Who owns it
- David Vélez (via Rua California Ltd. and family)74.4%
- Cristina Junqueira (co-founder)9.9%
- BlackRock, Inc.6.9%
CEO: David Vélez Osorno
Who it competes with
Key moments
- 2013Nubank is founded in São Paulo
- 2014No-fee purple credit card launches
- 2019Expansion to Mexico and Colombia begins
- 2020Easynvest acquisition adds investments
- 2021NYSE listing raises US$2.3 billion
Sources
Every number on this page comes from Nubank's own reports.
Full profile
The rest of the story is in the app.
What Nubank tracks18 metrics
Customers
Customers in Brazil
Customers in Mexico
Results, quarter by quarterwith a chart
Revenue
Profit
Margin
Where the money comes from3 regions
Brazil
Mexico
Other countries
The full timeline20 moments
2023
2025
2026
Nubank vs Itaú Unibancoside by side
Revenue
Profit
People
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