Nubank has reached 100mn customers in Brazil, adding around 1mn new accounts monthly, with growth coming from segments like small businesses and minors, according to the fintech’s Brazil CEO, Lívia Chanes, Estadão reported.
Speaking to Estadão, Chanes highlighted that Nubank has 57% of the adult population as customers and continues to grow at the same rate, despite already having significant market penetration.
While the company has a strong presence in Brazil, its shares in products such as insurance, investments and credit remain under 1%, offering further opportunities.
Chanes noted that Nubank’s growth potential lies in expanding services like payroll loans and targeting higher-income segments.
The CEO emphasised continued opportunities among microentrepreneurs, stating that Nubank currently serves only 17% of active small business registrations (CNPJs) in Brazil.
“We have room to grow, especially among microentrepreneurs,” Chanes said. She also mentioned the growing demand for accounts for minors, a newer offering available to children from age 10 with parental approval.
This product has expanded organically without marketing, tapping into a younger demographic. “We’ve seen strong and organic growth in this area due to the population’s characteristics,” she added.
Don’t just follow the news—understand it.
The IntelliNews PRO service includes access to reports, exclusive market data, and more news that decision-makers care about. Stay ahead of the market with IntelliNews PRO.
Sign Up NowRelated Articles
US Bluesphere Ventures Presells Three Battery Storage Sites Through to NTP, Files for Name Change to Sphere Power Corp.
US-based Bluesphere Ventures Inc. announced it has presold three of its battery energy storage sites in New York City's Zone J, with the deliverable on each being full development through to Notice ... more
IDB says historical vulnerability analysis on El Salvador should not be read as current assessment
The Inter-American Development Bank has cautioned that a historical analysis grouping El Salvador among Latin America's most financially vulnerable economies should not be read as an assessment of ... more
COP30: European governments back $2.5bn Congo Basin protection plan, alongside Brazil’s TFFF
European governments and multilateral lenders have endorsed a $2.5bn programme to support conservation in the Congo Basin, the world’s second-largest rainforest, in an initiative led by France and ... more