Wallets/nubank
Nubank
0 standards supported
Overview
Nubank is Latin America's largest neobank, operated by Nu Holdings Ltd (NYSE: NU) [1, 2, br-cro]. By end of 2025, Nubank served 131 million total customers across Brazil (110M, 60%+ of adult population), Mexico (13M+, 14% of adult population), Colombia (4M+). 2025 revenue: $15.8 billion (+37% YoY); net income: $2.9 billion (+45% YoY); total deposits: $41.9 billion (+29% YoY) — record profitability. Nubank rides on pix Brazilian instant-payment rail + operates as full retail bank across all three markets.
Geographic risk mitigation strategy: Mexico + Colombia become Nubank's "shield" amid Brazil's risk — customer base + deposits surge reduces single-country exposure.
History
May 2013 — Nubank founded [2] by David Vélez (CEO, Colombian-American) + Cristina Junqueira (Brazilian) + Edward Wible (American) in São Paulo.
2014 — Roxo card (NuConta credit card) launched [2]: First product — purple no-fee credit card, distinctive brand.
2017 — NuConta (digital bank account) launched [2]: Full bank account.
2018 — Mexico expansion [2]: First non-Brazil market.
2020 — Colombia expansion [2]: Third market.
December 2021 — IPO on NYSE (ticker NU) [2]: ~$2.6B raised, valued ~$45B at IPO.
2024-2025 — Continued growth + record profitability [3]: 131M customers by end 2025.
2025 — Revenue $15.8B + net income $2.9B (records) [1, 5]: Major profitability milestone for a neobank.
Ownership & operator
Operating entity: Nu Holdings Ltd (NYSE: NU) — Cayman-incorporated public company.
Major shareholders: Berkshire Hathaway (Warren Buffett — $500M investment 2021), Tencent, Sequoia, DST Global, Founders Fund + public float.
Founders + CEO: David Vélez (CEO, co-founder, Colombian-American Stanford MBA).
Subsidiaries per market:
- Nu Pagamentos S.A. (Brazil).
- Nu México Financiera S.A. (Mexico).
- Nu Colombia S.A.S. (Colombia).
Regulators:
- Brazil: BCB (Banco Central do Brasil) — full banking license.
- Mexico: CNBV (Comisión Nacional Bancaria y de Valores).
- Colombia: Superintendencia Financiera de Colombia.
Technical integration
Nubank is a multi-country digital-bank + wallet on Brazilian Pix instant-payment rail [1, pix-cro]:
| Layer | Description |
|---|---|
| Channel | Nubank mobile app (iOS + Android) + Nubank Roxo physical/virtual credit card |
| Identifiers | CPF (Brazilian tax ID), email, phone, card number, Pix keys |
| Brazilian rail | pix instant payment (Nubank's primary domestic rail) |
| Card networks | Mastercard (Roxo credit card issuer) |
| Cross-border | Limited consumer cross-border; cross-Latin-America via per-country licenses |
| Crypto | Bitcoin trading (NuCripto, Brazil) |
Users & growth
- Total customers: 131 million
- Brazil: 110 million (60%+ of Brazilian adult population)
- Mexico: 13+ million (14% of Mexican adult population)
- Colombia: 4+ million
- Revenue: $15.8 billion (+37% YoY)
- Net income: $2.9 billion (+45% YoY)
- Total deposits: $41.9 billion (+29% YoY)
- Interest-earning portfolio: $18.5 billion (+47% YoY)
Brazil revenue split: $11.0B BR + $0.8B MX + $0.24B Colombia + other.
Use cases
Full retail banking [1]: Cardinal — Pix transfers, deposits, savings, credit.
Roxo no-fee credit card [2]: Original product, distinctive purple branding.
Pix instant transfers [pix-cro]: Dominant Brazilian payment use.
Personal loans + credit lines (NuConsignado, Nu Crédito Pessoal) [2]: Lending products.
Investments (NuInvest) [2]: Brazilian brokerage.
Bitcoin trading (NuCripto, Brazil) [2]: Crypto-asset access.
Insurance distribution (Nu Vida) [2]: Multi-product.
Banking-as-a-service (Nubank for businesses) [2]: SME + corporate accounts.
Implementations & partners
Operating entities: Nu Pagamentos (BR) + Nu México + Nu Colombia.
Card-network partner: Mastercard (Roxo credit card issuer).
Cloud infrastructure: AWS.
Major LATAM competitors:
- Inter (Brazil), C6 Bank (Brazil), Banco Original (Brazil).
- Klar, Hey Banco (Mexico).
- Bancolombia + Davivienda (Colombia incumbent banks).
Brazilian Pix rail (NPCI of Brazil): Banco Central do Brasil.
Fun facts
- Founded 2013 by David Vélez (Colombian-American Stanford MBA), Cristina Junqueira, Edward Wible.
- Roxo (purple) no-fee credit card — defining brand element; one of LATAM's most-recognized fintech brands.
- December 2021 NYSE IPO at ~$45B valuation — at the time, one of the largest LATAM tech IPOs.
- Berkshire Hathaway $500M pre-IPO investment — Warren Buffett's vote of confidence.
- 131M customers across BR + MX + CO (end 2025) — Latin America's largest neobank.
- 60%+ of Brazilian adult population — substantial domestic dominance.
- $2.9B net income + $15.8B revenue (2025 records) — among the most profitable neobanks globally.
- Mexico + Colombia "shield" — geographic diversification mitigates Brazil concentration risk.
- +45% YoY net income (2025) — high-growth phase.
Comparison
| Feature | Nubank | [[revolut]] | [[monzo]] (UK) | [[n26]] (DE) | Inter (BR competitor) |
|---|---|---|---|---|---|
| Operator | Nu Holdings Ltd (NU) | Revolut Ltd + bank subsidiaries | Monzo Bank Ltd | N26 GmbH | Inter & Co (INTR) |
| Country footprint | 3 (BR + MX + CO) | 160+ | UK + US + EU | EU | Brazil (+ US) |
| Customers (2025) | 131M | 70M+ | 10M+ | 8M+ | 30M+ |
| Annual revenue | $15.8B | $6B | n/a | n/a | n/a |
| Annual net income | $2.9B (record) | $2.3B pre-tax | Approaching profit | Loss-making | Profitable |
| Banking licenses | BR + MX + CO | UK + EU + Mexico | UK | EU | BR |
| Listed | NYSE (Dec 2021) | Private ($75B Nov 2025) | Private | Private | B3 + NASDAQ |
Status
Active, dominant LATAM neobank [1, 3, 5]:
- Nu Holdings Ltd operator (NYSE: NU) since Dec 2021 IPO.
- 131M customers across BR (110M) + MX (13M) + CO (4M).
- $15.8B revenue + $2.9B net income + $41.9B deposits (2025 records).
- +37% YoY revenue + +45% YoY net income — high-growth + profitable phase.
- Geographic diversification via MX + CO mitigates Brazil concentration.
Sources
- 1 Nu Holdings 2025 20-F
- 2 Nubank — Wikipedia
- 3 Nubank 100M customers
- 4 Nubank profits jump — PYMNTS
- 5 Nubank 40% Q2 revenue growth — AInvest
- 6 Mexico + Colombia shield — CPG
- br-cro In-corpus:
reports/countries/BR-brazil.md - pix-cro In-corpus:
reports/standards/pix.md
Source
Biography extracted from nubank.md. See matrix.md for standards-support matrix if present.