Nubank

Nubank is a Brazilian neobank headquartered in São Paulo, Brazil. Although it is not formally part of Brazil’s National Financial System (Sistema Financeiro Nacional), Nubank operates as a financial and payment institution regulated and supervised by the Central Bank of Brazil. It is the largest fintech bank in Latin America, with around 88 million customers in Brazil and 6 million between Mexico and Colombia and a revenue of $8 billion. At its initial public offering in December 2021, Nubank was valued at $45 billion. According to the Q3 updates, the company reported a $783 million net income for the July-September period, up 39% year-on-year on a currency-neutral basis.