Revenue grew 230% YoY (FX-neutral basis) to $1.2B in Q222 - yes, that is not a typo. We are delighted to collaborate with NIPL (NPCI International Payments) to introduce their mobile-based real-time payment systems to our customers in the UAE, EVP and Head of Payments for Mashreq Bank Kartik Taneja said. All rights reserved. Evidently, the company notes that 3.8 million of its customers now have access to a bank account or credit card for the first time. Know our Board of Directors In addition, Nubanks shareholders also include notable venture capital firms Sequoia Capital and DST Global, and Chinese tech giant Tencent (OTCMKTS: TCEHY). Rua Capote Valente, 39 - 05409-000 - So Paulo, SP. of what is going on in the company. Belvo will use the new capital to scale and enhance its data enrichment solutions in particular, as well as launch its bank-to-bank payment initiation offering in both Mexico and Brazil. FAQs (Frequently Asked Questions) Glossary Governance Overview Documents Board of Directors Committees Management Team Stock Stock Chart and Quote Analyst Coverage Financials Results Center SEC and CVM Fillings News & Events Press Releases Media Events Calendar Contact IR Sign up for IR Mailing The company is headquartered in Berlin, Germany. Nubank is one of the world's largest digital banking platforms with 48.1 million customers across Brazil, Mexico and Colombia as of 30 September, up 62% year over year. These summarized, non-audited or non-IFRS financial measures are in addition to, and not a substitute for or superior to, measures of financial performance prepared in accordance with IFRS. Which funding types raised the most money? The service also includes quarterly earnings analysis, buy/sell trading alerts, my personal portfolio updates, live chat, and much more. We look forward to accelerating collaboration with additional financial institutions in the UAE and the entire Middle East, as part of the continued expansion of ThetaRays global reach.. In essence, Nubank estimates that its serviceable addressable market (SAM) added up to $99 billion in 2020. David Vlez, founder and CEO of Nubank, writes about our commitment to having the best practices over social, environmental, and governance matters - including net-zero emissions. More productive data analytics with Data Quality Governance, Implementing a centralized data quality governance framework in a fast-growing, agile and data-hungry organization, How I redesigned my teams calendar to be more productive. . The full earnings release has been made available on the Companys Investor Relations website. <>/Metadata 362 0 R/ViewerPreferences 363 0 R/PageLabels 364 0 R>> Get the full list, Youre viewing 5 of 16 executive team members. It is too costly to serve the majority of users, especially in emerging markets where you have a very high cost of operations, so a lot of that physical infrastructure will probably disappear. Vlez predicted that most financial services providers will transition into digital entities in the next five to ten years because of this, leading to an increased focus on customer service as well as lower costs and interest rates. Nubank is the second biggest credit card issuer in Brazil, following Itau Unibanco Holding, according to UBS analysts cited by Reuters. Check out the six principles that build our data scientists code. Given todays harsh macroeconomic conditions, now more than ever, SMEs need easy access to financing to have the best chance of survival, 40Seas co-founder and CEO Eyal Moldovan said. 7 steps that helped us keep our teams connected and healthy in a home-office regime. Enter a valid address and try again. Nu will hold a Conference Earnings Call today at 5:00pm Eastern time/7:00pm Braslia time with simultaneous translation in Portuguese and English. Latest product milestones in Brazil: This enhances their ecosystem offering and essentially builds a fence around their customers for long-term retention. In addition to the global headwinds, there are region specific risks to Brazil such as high inflation, currency devaluation, and the presidential election which could contribute to a country-wide downturn in the economy. Active Nubank Cripto customers: 1.3MM Date Event Details "It takes a lot of money to invest" "Investing is very difficult" "Money in savings is the best option" "It takes a lot of money to invest" The agreement comes with an option to extend the credit facility to $200 million. As one of the leading technology companies in the world, Nu leverages proprietary technologies and innovative business practices to create new financial solutions and experiences for individuals and SMEs that are simple, intuitive, convenient, low-cost, empowering and human. Nubank Credit Card: from Product to Platform mindset. Therefore, I place little weight on valuation ratios, but we can conclude that we have seen significant multiple contraction since IPO. Jingle Pay, a financial super app based in the UAE, Israel-based workplace intelligence platform Shield. Nevertheless, compared to large, multinational corporations, SMEs are seven times more likely to be denied trade financing, according to the World Trade Organization. endobj After hitting a $30bn valuation in a funding round . The news ranges from big new fundings to new product launches to deal-making in Canadas banking industry. The round featured participation from new and existing investors including investment angels like David Vlez, founder and CEO of Brazilian fintech Nubank. What happens when we run an engineering organization by constraining the number of tools in our toolbox for the greater good? NU Investments 15 Share Price $4.94 (As of Friday Closing) General Information Description Nu Holdings Ltd is engaged in providing digital banking services. Testing, learning, and iterating with time. As NU becomes profitable we could see triple digit GAAP EPS and non-GAAP EPS growth over the next few years leading to multiple expansion and strong stock performance. Get to know the essence, values, and history of the largest independent digital bank in the world. Yes. Tracking fintech, banking & financial services innovations since 1994. NuBank was founded in 2013 to serve the underbanked population across Brazil, a group that adds up to 30% of the countrys population. It is not just a matter of collecting, analysing and interpreting data. FinovateFall 2021 takes place at the Marriott Marquis Times Square in New York City, September 13 through 15. Although the Company believes that these estimates and forward-looking statements are based upon reasonable assumptions, they are subject to several risks and uncertainties and are made in light of information currently available, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors, including those risks and uncertainties included under the captions Risk Factors and Managements Discussion and Analysis of Financial Condition and Results of Operations in our prospectus dated December 8, 2021 filed with the Securities and Exchange Commission pursuant to Rule 424(b) under the Securities Act of 1933, as amended, and in our Annual Report on Form 20-F for the year ended December 31, 2021, which will be filed with the Securities and Exchange Commission. With 25 years of experience leading technology companies, Matt Swann joins Nubank to continue accelerating our innovation pace. This is the strongest quarter in Nus history. This release contains forward-looking statements. He highlighted the role of digital platforms in supporting the banks growth, and embraced the development of a diverse, inclusive, and enabling working environment courtesy of Mashreqs adoption of a work from anywhere culture.. `#,ltc.h1jt?5j-hDR@Bx4e!Eh`}@H?~lQ2_^~+h)B Kc,[rf= v^OK G 0F^h#8P5xRD;pL&GSOmX5*{ >Q}e;GZnV5/d` y2!8Pj6du}>+Q|P}&. Check out the six principles that build our data scientists code. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. It does all this without any additional fees. Whenever you wish to invest in any product available on the NuInvest app, youll need to make a transfer to it. 2023 PitchBook. Vlez said that the capital from the IPO will help fuel Nubanks expansion in Mexico and Colombia, en route to becoming a truly pan-Latin American banking services provider. The massive size of this round and the notoriety of the lead investor offer a hint that digital-only banks are not just a fad limited to 2020. It is not just a matter of collecting, analysing and interpreting data. QNB, a financial institution based in Qatar. As one of the leading technology companies in the world, Nu leverages proprietary technologies and innovative business practices to create new financial solutions and experiences for individuals and SMEs that are simple, intuitive, convenient, low-cost, empowering and human. Finovate is part of the Informa Connect Division of Informa PLC. Financial results are expressed in U.S. dollars and are presented in accordance with International Financial Reporting Standards (IFRS). Dedicated to helping connect peoples financial accounts to their apps, Plaid has added key insights to the data access it facilitates via a suite of analytics solutions such as its new income verification product, Plaid Income. The full earnings release has been made available on the Companys Investor Relations website. We dont think the banking branch will survive the way it is, Vlez said to CNBC this week. This fund was announced on Mar 24, 2021 and raised a total of R$1M. This result is driven by our advanced risk modeling, as well as our disciplined and resilient lending, especially in light of the current macroeconomic conditions. Gilthorpe is a finance and insurance industry veteran with more than 25 years of experience at firms such as TIBCO, Vertexone, and Watersmart Software. If youre already a NuInvest client and want to invest in products on the Nubank app, youll just need to create an account on the app. Moss, a Berlin-based payment and credit card platform, Mastercard partnered with Jordan Kuwait Bank (JKB) to, Indias Bank of Maharashtra collaborated with NPCI to, Africas largest bank by assets, Standard Bank, and African payments company Flutterwave, German B2B, Buy Now Pay Later solution provider Billie, Indian SaaS fintech Clear (formerly ClearTax), Latin American payment solutions provider Ebanx. Edward Wible, Nubank's CTO, shares his perspective on the future of Clojure and Datomic, and how the powerful ideas that guide these technologies helped shape Nubanks culture and business. The total includes $11 million in seed funding and a $100 million credit facility. z/[V1,]p}"cx|iv8K=j^q )SR "d)#4)c@PaF-wp]fq]l;q DxL79wuL1D^p&8b*8GvR#Ttpf7jb /urBA i,EM,5&Ca]#?-y)h\y#N?i]53.O*{V?w ), Nubank takes next step in international expansion and launches in Colombia. Access to PayMates platform also will give corporations in the UAE the ability to take advantage of longer Days Payable Outstanding (DPO) as purchasers, as well as make supplier payments earlier. %PDF-1.7 Below are Q421 and full year 2021 performance highlights of Nu Holdings Ltd.: Footnotes: Activity rate is defined as monthly active customers divided by the total number of customers as of a specific date. One thing to consider is that the Latin American market is home to over 650 million people. These newcomers have the ability and willingness to serve populations that banks have consistently ignored. Active investments customers: 7MM We provided over 5MM people with their first credit card or account. The full earnings release has been made available on the Companys Investor Relations website. Nubank investor presentation. The company's IPO is set to range from $8 per share and $9 per share. Todays news comes after the company brought on two C-level hires, Matt Swann as Chief Technology Officer and Arturo Nunez as Chief Marketing Officer. What happens when we run an engineering organization by constraining the number of tools in our toolbox for the greater good? Waiting for the Covid-19 times to pass, we'd like to share these two Nubank events, designed to give employees visibility (in person!) Last fall, the bank announced a partnership with Visa to develop a new digital reconciliation platform for business expense tracking. Stock Market (StockMarket.com) is a true disrupter, vastly improving the way people consume financial market data. Its undeniable that LatAm is a massive fintech opportunity poised to decrease the unbanked population and provide better/cheaper access to financial products. Nubank Data Analysts are now called Analytics Engineers, Aligning expectations and positioning ourselves towards better productivity and data governance, How we are keeping Nubanks culture alive while working from home. A company that is always on the side of their customers. HSBC Canada offers the opportunity to add a complementary business and client base in the market we know best and where we can deliver strong returns and client value given our financial strength and award-winning service, McKay said in a statement. Profitability: Brazil region had net income of $13M in the first half of 2022 for the first time ever. 2 0 obj Because of this, existing digital banks have increased their customer numbers in the past year, and there has been a massive onslaught of new digital banking players vying for a niche subset of the population. By and large, Nubank identifies itself as a neobank, offering consumers digital accounts and international credit cards. Mike Bradley is founder and CEO. press@nubank.com.br Feb 14 Company Nu Holdings Ltd. Reports Fourth Quarter and Full Year 2022 Financial Results "Nu posted record results this quarter, with growth across all metrics and a meaningful increase in profits", highlights David Vlez, founder and CEO Feb 23 Consumers NuBraille card offers unprecedented accessible experience Feb 16 ESG ?3uVn >`Mb( Cristina Junqueira, co-founder of the largest independent digital bank in the world, is the only Brazilian featured in this years Fortune 40 under 40 list. Brazilian neobank Nubank secured a $150 million loan from the World Bank's private lending division, the International Finance Corporation. Is set to range from $ 8 per share and $ 9 share. Time/7:00Pm Braslia time with simultaneous translation in Portuguese and English a transfer to it: from product to platform.! Of collecting, analysing and interpreting data to continue accelerating our innovation pace based in the.., analysing and interpreting data innovations since 1994 fall, the bank announced a partnership with Visa to develop new. 2022 for the first half of 2022 for the greater good toolbox for the greater?... 2021 and raised a total of R $ 1M by visiting the section! $ 30bn valuation in a funding round by and large, Nubank identifies itself as a,... ( IFRS ), September 13 through 15 to decrease the unbanked population and provide better/cheaper access to products! 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