NuBank roars ahead with 25 million customers

NuBank roars ahead with 25 million customers

NuBank roars ahead with 25 million customers

Despite being largely confined to the Mexico and Brazil region, challenger Bank Nubank has reached a milestone of 25 million customers. After being founded in 2013, the bank took a slow start to growth but is now averaging about 42,000 new clients a day, according to reports. As of July 2019 the challenger bank hit a valuation of around $10 billion USD. How come Nubank is growing so fast? this article suggests that less competition coupled with a larger un/derbanked population might be the key to their success.

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