The Ledger
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Storonsky: Revolut obtained its Mexican banking license ahead of Nubank
“So we got a banking license in Mexico, a head of new bank.”
Velez: Nubank is the primary bank for nearly 30% of adult Brazilians
“So if we have 50% of the population and 60% of primary bank account, we have already close to, we have the primary bank account for close to 30% of adult Brazilians. Which, by the way, is now the highest among any bank in Brazil. We are now the most often, mos…”
Velez: Nubank's Mexican credit card achieves world-leading 94 NPS
“The highest-rated-NPS consumer product in the world in any category is our purple, is Nubank's purple credit card in Mexico. It's a 94 NPS.”
Stebbings: Brazil has failed to show scaled tech liquidity over 20 years
“Brazil has not shown pathways to liquidity at scale. They've shown new bank and everyone says new bank. It's one in 20 years.”
Velez: Nubank is redefining itself into a broad consumer platform
“We're in the early days of using these eighty-five million digitally only consumer base to build a marketplace to go beyond financial services and enable our customers to access non-financial services products. So this is almost a redefine of what Nubank is. M…”
Nubank's Growth to $35B Proves Initial Valuation Concerns Wrong
“Like, new bank, At a billion dollars, looked pretty damn expensive. What's it worth now? Like, thirty-five billion dollars? Not so expensive.”
Stebbings: Nubank will expand into the US market
“They're going to enter the U S it's a good bet. They've still got David at the helm. They're growing 28% year on year. I think we, I think new banker incredibly solid.”
Nubank has reached 100 million active users
“I think they have like a hundred million active users nowadays.”
Nubank generated nearly $1 billion in profit last year
“I think they made nearly a billion profit last year or something.”
Nubank is currently outscaling Revolut's growth rate
“Revolut is growing fast, but Nubank is growing even faster.”
Nubank maintains a 90% customer retention rate over 24 months
“They have like a 90% retention rate, like over 24 months.”
Velez: Nubank reaches 85 million customers in Latin America
“By now we have one of the largest digitally native consumer platform, consumer basis in Latin America with eighty five million customers.”
Velez: Almost 50% of Brazilian adults are Nubank customers
“We're getting to a point where almost 50% of the Brazilian adult population is a customer of Nubank.”
Velez: Nubank holds 15% credit card and 5% personal loan market share
“In credit cards, we have about 15% market share, but in personal loans, we have five percent market share. In investments, we have about two percent. In insurance, we have one percent.”
Velez: 15,000 Nubank customers tweeted at Brazil's Central Bank during 2017 crisis
“Monday morning, there were 15,000 customers on Twitter of the Central Bank of Brazil saying, you cannot do this.”
Duggal: Over 40% of Nubank customers use it as primary bank
“We are well north of 40% of all customers, not of actives, but of all customers. And again, that's part of us holding ourselves to a high bar. So when at, when three years ago, that metric was about 10%. And so we've grown at four X, even as we've grown the cu…”
Nubank, Rappi, and dLocal Mafias Will Build Next LATAM Startups
“Like you've got NewBank, Rappi, Dlocal, right? And so like the kind of mafias from those companies are going to spin out and join the next generation of companies or grow the next generation of companies.”
Nubank achieved profitability and positive cash flow in Brazil by 2019
“By the time we had that conversation again, in 2019, we were profitable in Brazil. We were cashflow positive. We have great product market fit. We are banking licenses. We were fully funded on deposits.”
Nubank's savings product grew larger than its original credit card business
“And product number two for us Which is savings is way bigger than product number one for us. And product number three is going, is growing faster than product number two.”