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Nubank reaches 25 mln customer across LATAM

Wednesday 3 June 2020 15:45 CET | News

Brazil-based Nubank has reached 25 million customers, making it one of the largest independent digital banks in the world.

This scale grew during the first quarter of 2020 by an average of 42.000 users per day, across its markets of Brazil and Mexico. According to AltFi, the bank has added 10 million users in the eight months since October 2019, when it announced it had reached a 15 million users.

According to its figures, 20% of Nubank’s customers have never had a credit card before and 80% of its customer sign-ups come from unpaid referrals.

At its last funding round in July 2019, Nubank raised USD 400 million and was valued at USD 10 billion by investors including TCV, Tencent, DST Global, Sequoia Capital, Dragoneer, Ribbit Capital, and Thrive Capital.


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Keywords: Brazil, Nubank, Latin America, LATAM, digital banks, banks, digital, Mexico, credit cards, cards, TCV, Tencent, DST Global, Sequoia Capital, Dragoneer, Ribbit Capital, Thrive Capital
Categories: Banking & Fintech | Online & Mobile Banking
Countries: Latin America
This article is part of category

Banking & Fintech