Nubank

Nubank was founded in 2013 by Colombian David Vélez, Brazilian Cristina Junqueira and American Edward Wible. The first transaction with a Nubank card was made on April 1, 2014. Four years later, Nubank became a unicorn startup with its valuation of US$1 billion.[7]

Some of Nubank's investors are Sequoia Capital, Founders Fund,[8] Kaszek Ventures, Tiger Global Management, Goldman Sachs, QED Investors and DST Global. In the company's first two years of existence, it raised 600 million Brazilian reais.[9]

In 2014, Nubank launched its first financial product, an international Mastercard credit card that has no annuity fees and can be completely managed through a mobile app.

In 2017, Nubank also launched its loyalty program,[10] Nubank Rewards. The program's points (which never expire) can be redeemed for a product catalogue or discounts on services, travel and entertainment. Customers can try the program for free for 30 days, after which they will be charged a fee in order to further use it.

In the same year, it also launched its digital account, NuConta. In late 2018, it began offering payments through debit[11] and, in early 2019, the fintech started testing personal loans[12] with a few of its digital account users.

In May 2019, the company announced it would begin operations in Mexico[13] through a subsidiary called Nu. This was the first time Nubank offered its services and products outside of Brazil.[14]

In January 2020, Nubank made its first acquisition with the purchase of Plataformatec, a company that specialized in software engineering and agile methodologies, thus continuing its growth by including the team of 50 developers of Platformatec.[15] In July of the same year, the company also acquired Cognitect, responsible for Datomic and the Clojure programming language.[16]

In September 2020, Nubank acquired Easyinvest, an investment broker also from Brazil for an undisclosed amount.