Nubank reports 80M customers in Latin America

Nubank reached on the first week of April 2023 the milestone of 80 million customers in Latin America, where it maintains operations in Brazil, Mexico, and Colombia. The Brazilian operation ended March with a growth of 31.5% in 12 months, reaching more than 75.2 million customers, including the SME segment. The number of entrepreneurs with a Nubank PJ account surpassed 2.7 million, corresponding to a jump of more than 66% also in one year. The first three months of 2023 have represented significant progress for Nu Mexico and Nu Colombia, which registered more than 3.8 million customers together – a 66% increase in one year. These two Nubank operations also started to diversify their product portfolio beyond the credit card with the implementation of Cuenta Nu, which is being gradually made available to the Mexican customer base. Meanwhile, Nu Colombia continues to work on the development of new financial services and savings products. "We added around 5 million customers to our base in just over a quarter, always with a great contribution from the Brazilian operation and increasing adherence by Mexicans and Colombians. The 80-million-users milestone reveals the operational efficiency and capacity of Nubank in balancing global expansion and portfolio diversification to have more and more engaged customers," highlights David Velez, CEO and founder of Nubank.