Nubank is the leading financial technology company in Latin America. Its first product, launched in 2014, is a no fee credit card that is fully managed by a mobile app targeting Brazil’s vast millennial population.
Over 20 million people have requested the product since launch and the company passed the 5 million active customer mark in 2018. In 2017, Nubank launched its proprietary loyalty rewards program (“Nubank Rewards”), as well as a digital account (“NuConta”) that currently is under beta testing for existing credit card customers.
To date, Nubank has raised around US$420 million in seven equity investment rounds from Sequoia Capital, Kaszek Ventures, Tiger Global Management, QED, Founders Fund, DST Global, Redpoint Ventures, Ribbit Capital, Dragoneer Investment Group, Thrive Capital and now Tencent.
