Business Latin America

  In Latin America Nubank Gains 70 Million Customers In Brazil, Nubank continues to grow on other business fronts, such as investments, where it already has more than 6 million active customers, with emphasis on its fund management arm, Nu Asset Management. Source: EFT TRENDS Nubank is seeing meteoric growth and is continuing to expand. The São Paulo-based digital bank has garnered 70 million customers in Latin America, making it the fifth-largest financial institution in Brazil in terms of number of customers. This includes 66.4 million users in the Brazilian operation, 3.2 million in Mexico, and more than 400,000 in Colombia. “Our accelerated growth is driven by an ongoing search for efficiency, which balances expansion, new products, and increased revenue per customer,” said Nubank founder and CEO David Vélez in an announcement from the company. The company is looking to expand beyond its core credit card and digital account business, with the aim of offering a complete su