Nubank Doubles Down on Mexico with a $4.2B Commitment
Hey Digital Banking Fanatic!
Nubank says Nu México will invest US$4.2 billion through 2030 as it finalizes its shift to a full bank.
The plan includes ~US$2.5 billion in strategic spending over the next four years. The Mexican arm is adding about 1 million customers per quarter and nears 14 million total, about 14 % of the adult population.
Nu México is already one of the five largest financial players and third in credit card issuance in the country...
A banking license was approved in April 2025, and full banking operations are on track to start in 2026.
Growth metrics show faster monetization and lower cost to serve compared with Brazil at similar stages. Financial inclusion remains central, with a large share of customers outside major cities and many onboarding their first credit product.
At the beginning of last year, I covered 👉 “Nu Mexico doubles its customer base to 10 million in just one year”, a piece that breaks down what that growth really means for its broader Latin America strategy; if you missed it, it’s worth revisiting.
For now, make sure to check today’s updates below and stay ahead of what’s moving the space. I’ll be back here next week with more news. Stay tuned.
Cheers,
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NEWS
🇲🇽 Nu Mexico’s total investments expected to reach US$4.2 billion by 2030 as banking launch approaches. This substantial contribution drives robust and continuous growth, with the company adding approximately one million new customers per quarter and approaching 14 million customers.
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🌎 Backbase and VASS partner to accelerate digital transformation in wealth management and business banking. The collaboration will accelerate digital modernization for banks across Spain and Latin America, with a specific focus on Wealth and Business Banking segments, where digital underinvestment has created significant growth opportunities.
🇧🇷 Zippi raises R$ 220 million and projects to move R$ 10 billion. With the new resources, the company plans to expand its number of active clients by the end of 2026. It also states that it intends to increase the transaction volume per client as the portfolio matures.
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