Brazil’s Nubank (NYSE: NU) is marking its 13th year of business operations across LatAm markets as one of the world’s most impactful Fintech challengers. Founded in 2013, the financial technology company has grown from a just a promising idea born mostly out of frustration and agitation with traditional banking into a powerhouse serving 135 million customers across Latin America.
The Nubank idea / concept actually began back in 2012 when Colombian entrepreneur David Vélez, Nubank’s founder and CEO, moved to Brazil and faced endless bureaucracy, long queues, and unclear fees while trying to open a simple bank account.
Instead of accepting the status quo, Vélez envisioned a customer-friendly, technology-driven alternative.
In May of 2013, he launched Nubank alongside co-founders Cristina Junqueira and Edward Wible. Their vision is to establish a digital bank that eliminates unnecessary fees and delivers seamless experiences through a simple app.
Today, the results speak for themselves. Nubank boasts 115 million customers in Brazil, 15 million in Mexico, and approximately 5 million in Colombia.
The company added a remarkable 4 million new customers in the first quarter of 2026 alone. It has since achieved an annualized revenue run rate of US$20 billion—a scale matched by fewer than a thousand companies globally.
Vélez reflected on this journey: the company has captured significant market share while maintaining enormous growth potential.
In Brazil, Nubank holds only about 7% of the financial sector’s gross profit, and in Mexico, less than 1%.
“We are still in the first minutes of the first half,” he noted, highlighting the vast opportunities ahead.
Nubank’s success stems from its core product—a no-annual-fee purple credit card launched in 2014—which quickly resonated with millions.
The company expanded into full digital banking services, including accounts, investments, insurance, and more.
Its commitment to Fintech innovation, sharp customer focus, and efficient operations has earned a fair amount of industry recognition. Notably, TIME magazine named it among the world’s most influential finance companies.
In Brazil, where over 60% of adults are customers, Nubank remains deeply committed.
The company announced R$45 billion in investments for 2026, nearly double the amount from two years prior. These funds will support AI-powered credit models, new product development, team expansion, and capital strengthening.
Nubank is also pushing international boundaries.
In early 2026, it secured conditional approval to operate as a national bank in the United States.
In Mexico, its operations reached breakeven in Q1 2026, faster than in Brazil, as it prepares for full banking license activation.
Beyond finance, Nubank is embedding itself in customers’ lifestyles (much in the same way as its main competitor Revolut).
Partnerships with the Mercedes-AMG PETRONAS F1 Team and Inter Miami CF—including naming rights for Nu Stadium—along with sponsorships of venues like Nubank Parque in São Paulo and the revival of NuCine Copan, demonstrate its cultural engagement.
As Nubank turns 13, it stands as a pillar of Latin America’s fintech adoption evolution that aims to democratize access to digital financial services enable inclusion for the unbanked or underbanked population.
