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Nubank
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198

Nubank’s app has been downloaded more than Revolut, Monzo, and N26 combined

via Quartz

As digital banking startups catch on around the world, Nubank has taken a commanding lead when it comes to app downloads. The Brazilian company’s rapid growth shows the promise of mobile banks in developing markets, where much of the population doesn’t have adequate financial services. (more…)

Analytics, Banks, Global trends, Mobile-first banks

October 30, 2019

227

The battle to become the Mexican Nubank just started

via  TechCrunch

Banks in Latin America have long dominated the market as oligopolies, becoming highly profitable but not serving well the population.

In the region, Brazil was the first market to have the banks’ oligopoly challenged by neobanks, with Nubank proving that it was possible to break them up. Providing a superior product and exceptional customer support, it was able to attract more than 15 million customers, valuing the company at an astonishing US$10 billion in its latest round.

Although Brazil has been the center of the neobanks’ emergence in Latin America, attention has been shifting toward another country in the region. (more…)

Banks, Global trends

October 18, 2019

413

Brazilian fintech Nubank has grown to 15 million users: CEO

via Reuters 

Brazilian financial technology start-up Nubank now has 15 million clients, the firm’s chief executive said on Friday, a figure which underlines the rapid growth of the Sequoia Capital-backed venture in Latin America’s largest economy. (more…)

Banks, Mobile-first banks

October 11, 2019

675

What’s Driving The Digital Banking Boom In Latin America

Via Crunchbase News 

High smartphone penetration in Latin America is the key factor driving digital banking and financial inclusion in the region. One of the most prominent fintechs is Brazil’s Nubank, which is the largest digital bank outside of Asia and the highest-valued digital bank in the world. Mexico and Argentina are two other fintech ecosystems with albo and Ualá attracting much attention. 

The major trends that are influencing Latin America are: increased focus on small business banking, regulatory initiatives, bank-fintech collaborations and China’s banking services as a source of inspiration for Latin American fintechs.  (more…)

Analytics, Banks, Mobile-first banks

September 8, 2019

1106

Neobanks’ have secured a record $2.5 billion in funding this year

via Business Insider

The first half of 2019 is proving to be a lucrative one for neobanks, which raised $2.5 billion this year through the end of July across 55 deals, reports Business Insider citing CB Insights data. (more…)

Analytics, Banks, Mobile-first banks

August 15, 2019

720

Fintech decacorn Nubank raises $400M led by TCV

via TechCrunch

Another day, another mega round for a fintech startup. And this one is mega-mega.

Brazil-based Nubank, which offers a suite of banking and financial services for Brazilian consumers, announced today that it has raised a $400 million Series F round of venture capital led by Woody Marshall of TCV. The growth-stage fund is best known for its investment in Netflix but has also made fintech a high priority, with over $1.5 billion in investments in the space. According to Nubank, the company has now raised $820 million across seven venture rounds.

Katie Roof and Peter Rudegeair of The Wall Street Journal reported this morning that the company secured a valuation above $10 billion, potentially making it one of a short list of startup decacorns. That’s up from the $4 billion valuation we wrote about back in October 2018. (more…)

Banks, Deals, Mobile-first banks

July 27, 2019

927

You probably haven’t heard of Nubank. But it could be a $10 billion company, so you should.

via Vox 

Not many people in the US are familiar with Nubank, a digital bank that has become the most valuable startup in Latin America by extending credit cards to the unbanked and challenging the financial system of one of the world’s biggest markets, Brazil.

But Nubank is trying to become one of the most valuable financial technology startups in the world — aiming for a valuation of between $8 billion and $10 billion as it prepares to expand beyond Brazil to all of Latin America, Recode has learned. (more…)

Banks, Mobile-first banks

June 5, 2019

1306

Viva Republica finalizes consortium for internet-only Toss Bank

via The Korea Herald 

Viva Republica, operator of mobile payment app Toss, said Monday that it has finalized a consortium to establish Toss Bank, the third internet-only bank here.

The consortium will consist of Silicon Valley-based venture capital Altos Ventures, Goodwater Capital, Brazil’s Nubank, UK fintech player Revolut, and the Korea Electronic Certification Authority, the company said in a press release. (more…)

InspirAsia, Korea, Mobile-first banks

March 25, 2019

1502

Brazil’s Nubank Raises $30M Led By Tiger To Build Out Its Mobile-Based Credit Card Business

TECHCRUNCH: Brazil is one of the world’s fastest growing mobile markets, with 90 million smartphones in circulation among a population of about 200 million, and today a fin-tech company that has focused on catering to that growing group of users has raised a significant round of funding.

(more…)

Fintech news, Mobile payments/banking

June 2, 2015