Approximately one year after its launch, Nubank’s (NYSE:NU) “Caixinhas” has already established itself as one of the “favorite” investment solutions among the platform’s customers.
By the end of August, the tool had reportedly “reached 8.6 million active customers, more than double the 3.5 million recorded in January.” During the same period, the solution “achieved the milestone of R$ 14.6 billion in assets under custody.”
Announced in July 2022, “Caixinhas” was inspired “by customer requests for a solution to invest money in an organized, personalized, and autonomous way.”
Besides the original function, the tool now “offers the possibility to schedule recurring deposits.”
It is also available for customers of Cuenta Nu “in Mexico and account users under 18 in Brazil.”
Among the most used “Caixinhas,” the most popular themes are “related to achieving dreams, such as travel, home renovation, and career investment.”
Investment to increase credit limit
As part of the evolution of “Caixinhas,” Nubank launched its first initiative for the “Nu Limite Garantido” , a feature created “for the use of investment assets as collateral for credit.”
The first version allows the creation of a “Caixinha,” in which “the amount continues to earn interest from Nubank’s RDB (Bank Deposit Certificate) and is automatically converted into an increase in the credit card limit.” After approximately 4 months, around 15% of all “Caixinhas” created correspond to “Nu Limite Garantido.”
Guilherme Espallargas, leader of Nubank’s investment area, said:
“At Nubank, we want to offer credit and investments and do it safely, responsibly, and aligned with our customers’ goals. The growth in customers using ‘Caixinhas’ throughout 2023 shows how investors, whether beginners or not, are driven by concrete objectives. This strong movement motivates us to continue developing this product to offer even more possibilities for customers to improve the allocation of their investments and achieve their medium and long-term goals.”
Within the “Caixinhas” experience, customers can “set financial goals linked to their desired objectives or dreams.”
There is even a simulator that “allows them to assess how long it will take to achieve the desired amount.”
The progress of the invested amount can be “tracked through a progress bar.”
The feature also allows customization “during the creation process with names and photos in the app, linking saving money to personal plans.”
