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Nubank is a fintech phenomenon. The numbers converse for themselves.
At the moment, the Brazilian digital financial institution introduced that it has surpassed 100 million prospects within the three nations it operates in: Brazil, Mexico, and Colombia. It’s the first digital financial institution exterior of Asia to hit that milestone.
The overwhelming majority (92 million) are in Brazil, with 7 million in Mexico and 1 million in Colombia. What a tremendous achievement.
However what’s extra exceptional is that even with this dramatic buyer development, the corporate is getting cash. And they don’t seem to be simply squeaking out a revenue like many U.S. digital banks, they made round $1 billion in internet revenue in 2023
Nubank reveals us what is feasible with nice execution, supportive regulators and incumbent banks that have been largely caught napping within the 2010s.
They nonetheless have room to develop as there are a lot of nations in Latin America the place they don’t function but.
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> Nubank Surpasses 100 Million Shoppers Throughout Latin America
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