Business

Nubank reaches 35 million customers in Brazil, an increase of more than 50% in one year

The neobank has customers in all Brazilian cities and has already generated savings of BRL 19 billion due to its zero-rate policy

Nubank launches credit card in Mexico
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Brazilian fintech Nubank announced on Monday that it reached the mark of 35 million customers in Brazil, which represents a growth of more than 50% in the user base in just one year (in March 2020, Nubank had 23 million users).

According to a company statement, neobank has customers in all Brazilian cities and has already generated savings of BRL 19 billion due to its zero-rate policy, with services such as credit card with no annual fee and digital account with free maintenance.

READ ALSO: Nubank, Mercado Pago and Google together to accelerate financial digitization in Brazil

The credit card of Nubank, the company’s flagship, is used by 21 million customers. The digital account has 32.5 million account holders and a volume of BRL 29.6 billion in deposits in 2020.

Nubank is the largest neobank in the world and the major fintech in Latin America. In Latin America, it is also present in Colombia and Mexico. In Mexico, almost a year after its launch, there are already over one million requests for the Nu credit card, informed the company. In Colombia, the waiting list already has more than 250,000 subscribers a few months after the bank’s arrival in the country.

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