Nubank announced it was no longer serving its clients with investment advisory, cutting its headcount by 40.
Nubank announced a $150 million loan from the International Finance Corporation as it seeks to strengthen its presence outside of Brazil.
Credit granted by fintechs in Brazil reached 55 billion reais in 2021, up tenfold in the 2016-2021 period, according to Serasa Experian.
Two years after its launch in Mexico, Nubank is making progress amid a highly concentrated banking industry.
Nubank is doubling its bets in crypto technology. The neobank announced plans to develop its virtual token to drive a loyalty program.
These numbers consolidate Nubank as the fifth-largest financial company in Brazil by customers.
Nubank and Banco Inter are moving away from the local stock exchange, while other Brazilian fintechs skip the market altogether.
The Mexican operation represents Nubank's second-largest market and is seen as a strategic target in the company's internationalization plan.
Nubank has finally reached breakeven, sending bolstering signs that ripple across the regional fintech ecosystem.
To increase the engagement of the fintech's user community, the new product will expand Nubank's internal rewards program.