Nu Holdings

Nu Holdings, the holding company for Latin America’s largest digital bank, Nubank, has reached 139 million customers across Brazil, Mexico, and Colombia. Headquartered in São Paulo, it operates a low-friction digital model that allows customers otherwise excluded from traditional banking to access formal financial services. With this low-friction approach, Nu avoids physical branches or proprietary ATMs. Instead, customers use a mobile app, particularly helpful to those living in so-called banking deserts. The company’s spending solutions include a Nu dual-function credit and prepaid card, as well as a digitally enabled version. Meanwhile, unbanked customers can benefit from Nu’s pay-as-you-go financing for solar systems, smartphones, and appliances.