Nubank

•Nu is one of the world’s largest digital banking platforms, serving nearly 60 million customers across Brazil, Mexico and Colombia. As one of the leading technology companies in the world, Nu leverages proprietary technologies and innovative business practices to create new financial solutions and experiences for individuals and SMEs that are simple, intuitive, convenient, low-cost, empowering and human.

Nubank Owners

•Founding shareholder David Vélez owns 23 percent of the company, which puts his net worth at around $10.2 billion. He, furthermore, owns 86.2 percent of all Class B ordinary shares, which grants him a voting power of 75 percent. Cristina Junqueira’s ownership stake is equal to 2.9 percent. She owns 10.7 percent of Class B ordinary shares, putting her voting power at 9.4 percent. Sequoia Capital is the largest shareholder with a 25 percent ownership stake. DST owns 13.1 percent, Tencent 8.9 percent, followed by Tiger Global with 7.9 percent.

Business Model

•Its business model is predicated on creating an ecosystem of products that it can offer to its customers. Many of the world’s biggest FinTech companies, such as Robinhood, were launched with the goal of improving one particular customer pain point (in the case of Nubank high interest rates and access to bank accounts).

Culture and diversity

Some points important to know about their culture and diversity are:

•They hire and retain the best talents.

•They treat all Nubankers as contributing creators, horizontally, regardless of their function, team or seniority.

•They seek to receive and give decided and constructive feedback.

•They trust and hold each other accountable.

•They discuss constructively and commit ourselves to making decisions.

Where their mission is to build strong and diverse teams.

As of 2020, out of 2800 Nubankers across four different countries, 43% of them identify as women and 30% of our employees self-declare as part of the LGBT+ community.

Nubank in Mexico

•Nubank in Mexico, is primarly focused on the market for credit cards with no annual fees or commissions, a strategy that supported by an internal risk model and the close to US$2.6 billion it raised in its IPO in December.

•Mexico is a tough place to compete for credit card customers. Four banks account for 75% for the cards in circulation, led by Citibanamex, according to the CNBV. Fintech firms like Rappi and Stori are also vying for a slice of the market, offering a digital onboarding process to woo customers in a country where 70% of the population doesn’t use bank credit.

Financial Framework

•Since its founding in 2013, the challenger bank has grown its user base rapidly reaching 60M customers as of May 2022, up 61% year-over-year. It notched $877M in revenue in Q1’22, with a gross profit margin of 34%.

•Nowadays in 2022, Nubank financial situation according to Nubank’s CEO David Velez says: “This is the strongest quarter in Nu’s history. We reached nearly 60 million customers and a record-high activity rate of 78%. Our earnings-generating formula helped drive a record high quarterly revenue of US$887 million (226% increase YoY on a FXN), with a low customer acquisition cost, increasing revenue per customer, and decreasing cost to serve.”

Policies

•ESG Global Policy

•Privacy Policy

•Corporate Governance Policy

•Insider Trading Policy

•Disclosure Policy

•Pre-Approval Policies and Procedures for Audit and Non-Audit Services