• FOUNDING YEAR: 2013
    LOCATION:
    Brazil
    REGION:
    Last Update:
    18 Oct, 2019

Description

FOCUS

PRODUCTS & SERVICES:
Mobile-based credit card provider. 1) Accounts: It enables users to open online account and manage their day to day expenses, send and receive money in real time to other NuContas and make transfers (TEDs) to all banks without paying fees. 2) Rewards: It enables users to earn points with each purchase which can be used instantly in the same purchase. In addition to flight and hotel, users can use their points to erase frequent expenses, like Uber travel or online monthly service subscriptions. Users can also use these points to erase their invoice expense. 3) Cards: It provides a Nubank Mastercard International Card which can be used by individuals to make payments and transfer money. Users can also request to increase their credit limit through the Nubank Mobile app. 4) It has recently launched personal loan. The company is also planning to launch the digital account services for small and medium size businesses.
REVENUE MODEL:
Viewable by subscribers only
MAIN CLIENTS:
Retail online customers

PEOPLE

FOUNDERS:
David Velez
Board Members and Advisors:
Nicolas Szekasy
NUMBER OF EMPLOYEES:
501-1000
INVESTORS:
Tiger Global Management, Sequoia Capital, QED Investors, Nicolas Berggruen, Kaszek Ventures, Gene Lockhart, DST Global, Founders Fund, Goldman Sachs, Fortress Investment Group, Founders Fund, Redpoint Ventures, Ribbit Capital LP' QED, DST Global, Tencent Holdings, Digital Sky Technologies.
KEY EMPLOYEES:
David Vélez (CEO); Gabriel Silva (CFO)
COMMENT:
1) David Velez founded Nubank in 2013. Before that he was also the co-founder of General Atlantic's Latin American investment programme. He began his career by working in companies like Morgan Stanley and Goldman Sachs. He has completed his education from Stanford School of Business. 2) Crisitna Junquiera is the Co-Founder and VP of Branding and Business Development at Nubank Brasil. Prior to that she held leadership positions at NameItaú Unibanco and LuizaCred.

TRACTION

VALUATION / MARKET CAP:
$10 Billion in 2019
VALUATION COMMENT
$10Billion
REVENUE:
$10M+ in 2017
REVENUE COMMENT:
Viewable by subscribers only
ACTIVE USERS:
12 Million in 2019
ACTIVE USERS COMMENT:
Almost 30 million people have requested the product since launch in 2017.

MOMENTUM

FUNDED:
YES
TOTAL FUNDING:
$818.3 Millions
DATE OF LAST FUNDING:
Jul 2019
SEED & PRIOR FUNDING:
$2 Millions
SEED CLOSED ON:
Jun 2013
FUNDING SERIES:
SERIES A
$14.3 Millions Closed: Sep 2014
SERIES B
$30 Millions Closed: Jun 2015
SERIES C
$52 Millions Closed: Jan 2016
SERIES D
$80 Millions Closed: Dec 2016
SERIES E
$240 Millions Closed: Oct 2018
SERIES F
$400 Millions Closed: Jul 2019
DEBT FUNDING:
$56.4 Millions
LISTED:
NO

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