If you’re not taking note of Nubank, it’s time you probably did.
Final week the Latin American fintech chief launched their This autumn and full-year earnings and it was one other very strong report.
Not like many fintechs on this nation, Nubank is solidly worthwhile and has been for some time. It posted a internet revenue of $361 million for This autumn, that’s not a income quantity, that’s revenue.
For the 12 months Nubank’s internet revenue was $1.0 billion. Let me repeat that: Nubank made $1 billion in internet revenue in 2023.
They’re fairly possible essentially the most profitable firm within the historical past of fintech. Whereas many massive fintech corporations are nonetheless on their journey to breakeven Nubank reveals us what is feasible.
They’re now the fourth largest financial institution in Brazil the place they’ve 90 million clients or half the grownup inhabitants. And but they’re nonetheless including over a million clients a month.
A deep dive into their earnings report can be time nicely spent for everybody in fintech.
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