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☆ Nubank CEO David Vélez on LatAm tech opportunities
▼ + stars: | 2024-01-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNubank CEO David Vélez on LatAm tech opportunitiesNubank CEO David Vélez speaks to CNBC's Kate Rooney about e-commerce and growth opportunities in the Latin American market, and how the region's tech savvy and underbanked population remains a draw for growth investors.

Persons: David Vélez, CNBC's Kate Rooney

☆ Warren Buffett's Berkshire Hathaway has likely scored a 93% gain on Nubank stock this year, making the crypto-friendly bank its best performer
▼ + stars: | 2023-10-12 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Berkshire Hathaway's best-performing stock this year is likely Nubank-owner Nu Holdings, up 93%. Apple stock is up this year, but other key Berkshire bets like Coca-Cola and Kraft Heinz are down. AdvertisementAdvertisementWarren Buffett's Berkshire Hathaway has notched a 93% gain on Nu Holdings since the start of January, likely making the Nubank owner the best performer in Berkshire's stock portfolio this year. Nubank shares have slid 13% from their IPO price fo $9 to trade at $7.84 as of Wednesday's close. Munger has hailed Sequoia as perhaps the "most remarkable investment firm in America" with "the best investment record of anybody."

Persons: Berkshire Hathaway's, Warren Buffett's, Kraft Heinz, —, Warren, Berkshire Hathaway, Berkshire hasn't, Buffett, Charlie Munger, Todd Combs, Ted Weschler, David Vélez, Munger, Sequoia Organizations: Berkshire, Nu Holdings, Apple, Kraft, Service, Bank of America, Sequoia Capital, Sequoia Locations: Berkshire, America, Sequoia

☆ Buffett-backed Nubank posts record revenue on strong user growth
▼ + stars: | 2023-08-15 | by ( ) www.reuters.com time to read: +2 min

The logo of Nubank, a Brazilian FinTech startup, is pictured at the bank's headquarters in Sao Paulo, Brazil June 19, 2018. REUTERS/Paulo Whitaker/file photo Acquire Licensing RightsAug 15 (Reuters) - Brazil's Nubank (NUN.MX) on Tuesday reported record revenue for the second quarter as the Warren Buffett-backed digital banking firm logged a surge in new customers. Nubank added 4.6 million customers in the quarter ended June 30, reaching a total of 83.7 million customers globally, representing 28% growth from a year earlier. This helped total revenue surge 60% to $1.9 billion from a year earlier, while monthly average revenue per active customer (ARPAC) increased to $9.30, an 18% rise on foreign exchange-neutral basis. Reporting by Manya Saini in Bengaluru and Peter Siqueira in Sao Paulo; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Paulo Whitaker, Warren Buffett, David Vélez, Nubank, Manya Saini, Peter Siqueira, Shinjini Organizations: REUTERS, Sao Paulo, Thomson Locations: Brazilian, Sao Paulo, Brazil, New York, Bengaluru, Sao

☆ Buffett-backed Nubank has AI investments as 'great priority', CEO says
▼ + stars: | 2023-05-18 | by ( ) www.reuters.com time to read: +1 min

[1/2] Nubank CEO David Velez talks on stage during the opening of the Web Summit technology conference, in Rio de Janeiro Brazil May 1, 2023. REUTERS/Ricardo MoraesSAO PAULO, May 18 (Reuters) - Investments in artificial intelligence are a "great priority" for Brazilian digital lender Nubank , Chief Executive David Velez said on Thursday, adding that the firm expects to demonstrate it soon as it pushes for expansion. "Five years from now you'll be talking to Nubank in your self-driving car, you'll be talking to Nubank in your home," Velez told reporters. Nubank debuted on the New York Stock Exchange in late 2021 raising nearly $2.6 billion. She added Nubank also sees growth opportunity in Mexico as "much bigger" than in Brazil at the moment.

☆ Nubank CEO David Vélez says the Brazilian banking sector is solid despite turmoil in the U.S.
▼ + stars: | 2023-05-16 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNubank CEO David Vélez says the Brazilian banking sector is solid despite turmoil in the U.S.Nubank CEO David Vélez joins 'Closing Bell Overtime' to talk the state of banking in Latin America and the changing fintech landscape in the region.

☆ Buffett-backed Nubank reports record revenue on steady user growth
▼ + stars: | 2023-05-15 | by ( ) www.reuters.com time to read: +2 min

May 15 (Reuters) - Brazil's Nubank (NUN.MX) on Monday reported record revenue for the first-quarter as the digital bank benefited from steady growth in users and higher average revenue per customer. Nubank added 4.5 million customers in the first-quarter ended March 31, taking the total count globally to 79.1 million, a 33% growth from last year, the bank said. Monthly average revenue per active customer (ARPAC) increased to $8.6, expanding 30% from a year earlier on FX-neutral basis. The bank's gross profit rose 124% to $650.9 million in the reported quarter on FX-neutral basis, while total revenue nearly doubled to hit an all-time record high of $1.6 billion from a year earlier. On an adjusted basis, the bank reported a net income of $182.4 million, compared with $10.1 million a year earlier.

☆ Buffett-backed Nubank's quarterly profit surges amid robust customer demand
▼ + stars: | 2023-02-14 | by ( ) www.reuters.com time to read: +1 min

Nubank added 4.2 million customers in the fourth quarter ended Dec. 31, and 20.7 million in 2022, closing the year with a total of 74.6 million customers globally. Monthly average revenue per active customer (ARPAC) increased to $8.2, expanding 37% over the prior year on an FX neutral basis. The digital lender's gross profit surged 137% to $578.3 million in the fourth quarter. Nubank's total revenue for the fourth quarter was $1.45 billion and a record $4.8 billion for the full year. On an adjusted basis, the bank reported net income of $133 million in the quarter ended Dec. 31.

☆ Buffett-backed Nubank's revenue surges on robust customer growth
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: +1 min

Nov 14 (Reuters) - Nu Holdings Ltd (NUN.MX) posted a near three-fold jump in third-quarter revenue on Monday, as the Warren Buffett-backed digital banking firm saw rapid customer growth in its key domestic Latin American market. "Our customer base grew to over 70 million with a record high activity rate of 82%," said founder and Chief Executive David Vélez in a statement. Total revenue of the company, popularly known as Nubank, surged 171% to a record $1.3 billion on a FX-neutral basis for the quarter ended Sept 30. On a FX-neutral basis, gross profit climbed 90% to a record high of $427 million in the reported quarter. Nubank's customers grew by 5.1 million in the quarter, or 46%, over last year, to 70.4 million in Brazil, Mexico and Colombia.

The GOP, especially in South Florida, is trying to portray Democrats as "socialists" and soft on foreign policy, with Taddeo touting her hard-line stance against leftist governments. Salazar and Taddeo have similar hard-line foreign positions against the governments of Cuba, Venezuela and Nicaragua. Taddeo, according to a spokesperson, feels current foreign policy toward Cuba, Venezuela, and Nicaragua cannot change until there are democratic transitions in those countries. There are about 275,000 Colombian eligible voters in Florida and a significant number live in the district. The two candidates recently left many puzzled when they tweeted that former Colombian President Iván Duque seemingly supports both of them.

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