Nubank announced today that it has surpassed 100 million customers in Brazil, Mexico and Colombia, becoming the first digital banking platform to reach this milestone outside of Asia. This achievement comes after the company has presented record financial results for the year 2023, with more than $1 billion in net profits and more than $8 billion in revenue, which reinforces the strength, efficiency and scalability of the Nubank business model.

Currently, Nubank has more than 92 million clients in Brazil, 7 million in Mexico and is close to exceeding one million clients in Colombia, maintaining record levels of satisfaction. According to internal analysis, the company’s NPS (Net Promoter Score, an index that measures customer satisfaction) is almost three times higher than that of traditional entities and other major local digital finance companies.

True to its mission of “fighting complexity to empower people,” Nubank leverages technology and innovation to foster competition in the sector and transform millions of lives through inclusion and better financial planning. The company’s digital model has helped its customers save more than $11 billion in banking fees in 2023 and save more than 440 million hours waiting in service lines over the last seven years.

In Brazil, in a 12-month period, at least 5.7 million people obtained their first credit card through Nubank . After breaking the access barrier, research showed that 60% of Brazilian clients improved their financial life in the first 24 months, through the frequent and responsible use of credit cards and other financial products.

«In 2013, we set ourselves the ambitious goal of reaching one million customers in five years, which seemed almost impossible at the time. In a decade, we have surpassed 100 million, which is a testament to the trust our customers place in us and the power of a truly user-centric business model. These 100 million customers have written their stories alongside ours, and we want to honor them in a special way,” explains David Vélez, founder and CEO of Nubank .Nubank is launching “You at the Center of It All,” a campaign that uses technology and innovation to highlight the journey of real customers through an activation at the Exosphere, the exterior of Sphere in Las Vegas and the largest LED screen in the world.

The activation in the Exosphere, which is almost 112 meters high and more than 157 meters wide, displays 360-degree images of Nubank customers. The faces are made up of purple particles, each representing one of Nubank’s 100 million customers. Together, they illustrate that Nubank is made up of all its individual stories. Nubank customers will appear May 7-14 in the Exosphere, kicking off additional local campaigns and customer engagement in Brazil, Mexico and Colombia. The Nubank 100 Million campaign materials are available at http://www.nubank.com.br/100M

«The focus on the client has guided us from the beginning. Today we want our clients to see themselves as we see them: at the center of everything. As we reach this milestone, we want to focus on real people and their individual stories of empowerment, and advance our mission to help improve people’s lives,” emphasizes Cristina Junqueira, co-founder and chief growth officer of Nubank .

A record-breaking journey towards 100 million customers

Nubank was born in Brazil in 2013 with the mission of fighting complexity to empower people in their daily lives, reinventing financial services and using technology to solve problems by putting “a bank in the hand of every person.” Betting against the general trend of fintechs to begin operating with savings products, the company launched a commission-free credit card as its first product, with the aim of first addressing the most challenging financial vertical: credit. Another key differential of Nubank is that it has built a 100% cloud-native platform, which allows scalable growth with a low cost structure and that enhances its data processing capabilities, one of the fastest in the industry, for the product design, credit and risk models, and customization.

The company surpassed one million customers in Brazil two years after launching its first product, three years ahead of schedule and mainly through organic growth dynamics such as recommendations from customers themselves. The savings account, launched in 2017, unlocked further growth by enabling a series of products: personal loans, SME solutions, investments and cryptocurrencies. Today, the portfolio includes marketplace and insurance, among others.

Starting in 2019, Nubank began to expand internationally, in Mexico and Colombia, leveraging the unique combination of customer-focused cloud-native technology, an efficient business model, and a powerful brand. The Mexican client base is growing faster than in Brazil at similar stages, and the operation is on track to obtain a banking license to continue expanding its product portfolio with investments, payroll products and higher lines of credit, among others. In Colombia, the company presented its Savings Account at the beginning of the year, which already has more than 500,000 registered clients on the launch list.