Nubank has finally reached breakeven, sending bolstering signs that ripple across the regional fintech ecosystem.
Nubank announced in October the creation of the digital currency, which is part of its new blockchain and crypto-assets initiative in LatAm.
Credit granted by fintechs in Brazil reached 55 billion reais in 2021, up tenfold in the 2016-2021 period, according to Serasa Experian.
Many of these firms have aimed to go public in the vague "end of 2021/ early 2022/ when we have enough money" time frame while participating in increasingly rare-letter funding rounds.
Digital banks in Brazil are finally making inroads into one of the most competitive and highly profitable credit markets in the world.
The British neobank, serving over 40 million customers globally, has acquired a banking license in Mexico.
Making news in fintech this week was the former Silicon Valley Bank CEO, Microsoft, Goldman Sachs, OpenAI, Nubank, Truist,. Jack Henry, FedNow, Ripple, Dave and more.
Last year we saw continued interest in a broad array of fintech companies. Recently the fintech space has become more...
Investments into Latin American fintechs are expected to pick up in 2024 amid rate cuts in the United States.
Nubank announced it had expanded its customer base sixfold over the past year, reaching a total of 2.7 million customers from 0.4 million.