These numbers consolidate Nubank as the fifth-largest financial company in Brazil by customers.
Binance announced a partnership with Mastercard this week to launch a prepaid card in Brazil, the second initiative of its kind in Latin America after a previous rollout in Argentina.
Nubank announced it was no longer serving its clients with investment advisory, cutting its headcount by 40.
iCred will use these resources to expand its operations and enter the payroll loan market for the beneficiaries of the social security fund.
Kueski plans to launch new products this year as it seeks to serve the underbanked. BNPL application rising on the back of e-commerce.
Open Finance completed its first 2 years in Brazil with 15 million users. The challenge, however, is to grow beyond the specialized audience.
Neon's fundraising comes at a time when the banking sector has seen default rates increase in Brazil.
Nubank announced in October the creation of the digital currency, which is part of its new blockchain and crypto-assets initiative in LatAm.
This week, PicPay, one of the leading digital wallets in Brazil, announced a new acquisition in a bid to gain ground in Brazil's trillion-dollar loan market.
Fintechs in Brazil are taking a more cautious approach to credit in the face of rising delinquencies and inflation.