Nubank Breaks Record as First Digital Bank Outside Asia to Reach 100M Customers in Latin America

In a significant development, Brazilian digital bank Nubank has achieved a milestone by surpassing 100 million customers in Latin America, making it the first digital banking platform outside Asia to accomplish this feat. Nubank operates in three countries, including Brazil, where it serves over 92 million consumers, as well as Mexico and Colombia, with customer bases of 7 million and nearly 1 million, respectively. Last year, the company reported exceptional financial results, generating more than $8 billion in revenue and $1 billion in net profits. In a statement, CEO David Velez expressed his gratitude to the customers who placed their trust in the organization, stating, “In 2013, reaching one million customers within five years seemed an extremely challenging objective. Today, just ten years later, we have surpassed the 100 million mark, which is a testament to the faith our clients have in us.” Nubank plans to release its first-quarter results on May 14. (Source: Reuters)