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☆ Nubank CEO David Velez on exceeding 100 million customers in Latin America
▼ + stars: | 2024-05-15 | 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 Velez on exceeding 100 million customers in Latin AmericaNubank CEO David Velez joins 'Squawk Box' to discuss the Brazilian digital bank's milestone of reaching 100 million customers across Latin America, their record revenue in the latest quarter, and more.

Persons: David Velez Organizations: America Locations: Latin America

☆ Watch CNBC's full interview with Nubank CEO David Velez
▼ + stars: | 2024-05-15 | 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 EmailWatch CNBC's full interview with Nubank CEO David VelezNubank CEO David Velez joins 'Squawk Box' to discuss the Brazilian digital bank's milestone of reaching 100 million customers across Latin America, their record revenue in the latest quarter, and more.

Persons: David Velez Locations: Latin America

☆ 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

☆ With China playing catchup with the U.S., these 3 charts show the top countries for fintech in 2023
▼ + stars: | 2023-10-26 | by ( Ryan Browne | ) www.cnbc.com time to read: +7 min

UK has second-biggest number of top fintech firmsThe U.S. was home to 65 of the top fintech companies, according to CNBC's list of world's top 200 fintech companies. In the U.S., some of the top global fintech companies on Statista's list include names like Stripe, PayPal and Intuit . Stateside, meanwhile, the largest fintech unicorns are Stripe ($95 billion), Chime ($25 billion), Ripple ($15 billion), Plaid ($13.5 billion), Devoted Health ($12.6 billion, and Brex ($12.3 billion). Other leading ecosystems for fintech unicorns include India, on 17 unicorns, and China, on eight. Standing in 8th place is Mexico, with five fintech unicorns, Singapore, also with five, and the Netherlands, which has four in total.

Persons: Ed Jones, Starling, Tencent, Statista, Andreessen Horowitz, Wise, Vlad Tenev, Group's, —, Nick Parmenter Organizations: AFP, Getty, CNBC, Statista, Ant Group, Plaid, Visa, Mastercard, European Union, Apple, Google, Sequoia Capital, PayPal, Intuit, Financial, Authority, Consumers Locations: U.S, Beijing, China, Silicon, Europe, Ukraine, Covid, India, France, Brazil, Germany, Mexico, Singapore, Netherlands, Statista

REUTERS/Paulo Whitaker/File Photo Acquire Licensing RightsMEXICO CITY, Oct 19 (Reuters) - Brazilian fintech Nubank's Mexico arm has requested a banking license from local regulators, the unit's top executive said on Thursday, describing it as a bid to broaden product offering. A banking license would allow Nubank to offer "diverse kinds of investments," including shares in Mexico's main stock index, the company said in a statement to Reuters. Other opportunities stemming from a banking license include handling direct deposits of salaries for customers and setting higher deposit limits, Nubank Mexico head Ivan Canales said in an interview. Canales did not provide a timeline for obtaining the license in what is Nubank's second-biggest market after Brazil. Funding for Nubank's expansion plans will come from parent company Nu Holdings (NUN.MX) and deposits made by their customers, said Canales.

Persons: Paulo Whitaker, Ivan Canales, Canales, Nubank, Valentine Hilaire, David Alire Garcia, Varun Organizations: REUTERS, MEXICO CITY, Reuters, Nu Holdings, Thomson Locations: Brazilian, Sao Paulo, Brazil, MEXICO, Mexico

Data from Mexico's financial products watchdog Condusef shows that the accounts would be the highest-yielding ones offered in the local financial sector. Other Latin American fintechs like Brazil's Nubank (NUN.MX) and Argentina's UALA have also launched savings accounts this year in Mexico, where data from the national statistics agency showed less than half of the population has savings accounts. The Mexican arms of Nubank and UALA both offer 9% yields on their savings accounts, already much higher than most banks. Stori expects to reach 3 million savings account holders by the end of next year, said its General Manager of New Products Sergio Duenas. ($1 = 18.0044 Mexican pesos)Reporting by Valentine Hilaire; Editing by David Alire Garcia, Christian Plumb and Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.

Persons: Marlene Garayzar, Sergio Duenas, Valentine Hilaire, David Alire Garcia, Christian Plumb, Marguerita Choy Organizations: MEXICO CITY, Wednesday, Reuters, The Bank of, New, Thomson Locations: MEXICO, Mexico, The Bank of Mexico, Nubank

☆ Here are Wednesday's biggest analyst calls: Nvidia, Microsoft, Apple, Amazon, Arm, Meta, Ulta & more
▼ + stars: | 2023-10-18 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

KeyBanc initiates Arm Holdings as overweight Key said it sees "meaningful market share gains" for Arm. " Bank of America reiterates Microsoft as buy Bank of America said Microsoft remains a top pick heading into earnings next week. Deutsche Bank reiterates Ulta as buy Deutsche said despite softening beauty sales, Ulta remains "compelling." "After tripling its market share in China in the last decade, NetEase is emerging as a global video games content powerhouse by forming synergistic partnerships with gaming industry veterans globally that will likely drive a similar runway for its global market share." "As we had anticipated (although we thought it would come in January), ASML reset expectations for CY24 to flat revenue growth vs prior guide of 'growth.'"

Persons: Wedbush, Key, IoT, Raymond James, Brinker, FWRG, Jefferies, Ulta, Morgan Stanley, NetEase, Redburn, Guggenheim, Doug McMillon, Bank of America downgrades Sherwin, Williams, Sherwin, Ecolab, McDonald's Organizations: UBS, Apple, Citi, Nvidia, NVIDIA, Holdings, ARM, JPMorgan, Bank of America, Microsoft, Jefferies, Deutsche Bank, Deutsche, Avis Deutsche, Walmart, of America Locations: China, Europe, Japan, Dutch, ESTC, Brazil, underperform

☆ 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

☆ Stocks making the biggest moves midday: Tesla, Qualcomm, Meta, Moderna and more
▼ + stars: | 2023-09-11 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

Tesla — Shares of the electric vehicle maker jumped 6% after Morgan Stanley upgraded the stock to overweight from equal weight. Kenvue — Shares of the Band-Aid maker gained 3% after being upgraded by Deutsche Bank to buy from hold on Sunday. The Wall Street firm called Kenvue a high-quality company and believes the stock's slide has created an attractive entry point. Nubank – The U.S.-traded shares of the Brazilian financial firm rose nearly 6% after JPMorgan upgraded Nubank to overweight from neutral. Discovery and Paramount also traded higher on the news, rising 2.2% and 1.9%, respectively,AstraZeneca — The pharmaceutical company's shares lost nearly 3% midday Monday.

Persons: Morgan Stanley, Adam Jones, — Smucker, Alibaba, Daniel Zhang, Zhang, Nubank, Warner, Pascal Soriot, Immatics, — CNBC's Alexander Harring, Samantha Subin, Yun Li, Jesse Pound, Michelle Fox, Tanaya Macheel Organizations: Artificial Intelligence, Hostess Brands, Tenable Holdings, JPMorgan, Deutsche Bank, Alibaba Group, Wall Street, Meta, Qualcomm, Apple, Media, Disney, Charter Communications, Warner Bros . Discovery, Paramount, AstraZeneca, Reuters, Mail, Moderna —, Moderna Locations: Shanghai, U.S, Brazil

☆ Here are Monday's biggest analyst calls: Tesla, Apple, Nvidia, Amazon, Microsoft, Block, Netflix & more
▼ + stars: | 2023-09-11 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

JPMorgan upgrades Tenable to overweight from neutral JPMorgan said the security software solutions company is "well positioned for better fundamentals." JPMorgan upgrades Nubank to overweight from neutral JPMorgan said it sees an attractive entry point for the Brazilian neobank company. JPMorgan downgrades Brunswick to neutral from overweight JPMorgan said higher interest rates will weight on the marine recreation company in the months ahead. Bank of America reiterates Nvidia as a top pick Bank of America said Nvidia shares remain "compelling" at current levels. " Bank of America initiates Raymond James as buy Bank of America said the financial services company is well positioned and has a defensive portfolio. "

Persons: Morgan Stanley, Tesla, Raymond James, RJF, Evercore, Redburn, Bob Iger, Johnson, Jefferies, Bernstein, Brown, Forman, Baird, it's Organizations: supercomputing, Investors, JPMorgan, TENB, Brazilian, Bank of America, CSX, of America, 3Q, JPMorgan downgrades, Nvidia, AMD, Barclays, UBS, Amazon, Netflix, Disney, Deutsche Bank, Deutsche, Citi, Microsoft Citi, Microsoft, Apple Locations: JPMorgan downgrades Brunswick, North America

MEXICO CITY, Sept 7 (Reuters) - Mexican fintech Stori on Thursday announced the acquisition of MasCaja, a financial firm that will provide it a license to broaden its product portfolio in a market where many lack access to financial services. "We want to take the next step to boost financial inclusion," Stori co-founder Marlene Garayzar told Reuters. Stori, which reached unicorn status last year, already offers credit cards with lines starting at 500 Mexican pesos ($28), in a country where government data shows less than 35% of the adult population has formal credit. Earlier this year, Stori said it had reached 2 million users. ($1 = 17.5722 Mexican pesos)Reporting by Valentine Hilaire; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

Persons: Stori, Marlene Garayzar, Nubank, Valentine Hilaire, Leslie Adler Organizations: MEXICO CITY, Reuters, ABC Capital Bank, Thomson Locations: MEXICO, Mexico, Argentine

A banner for Nubank, the Brazilian FinTech startup, hangs on the facade at the New York Stock Exchange (NYSE) to celebrate the company's IPO in New York, U.S., December 9, 2021. REUTERS/Brendan McDermid/File photo Acquire Licensing RightsMEXICO CITY, Sept 5 (Reuters) - Nubank, one of Latin America's biggest fintech companies, announced on Tuesday the launch of personal loans for the Mexican market, aiming to boost its financial services portfolio in the region's second-largest economy. The new product will allow customers to obtain personal loans in less than five minutes through its platform, the digital bank's Mexican arm, known as Nu Mexico, said in a statement. "Around 20% of the adult population connected by smartphones in Mexico has already applied to a Nu product. Executives from the fintech firm told Reuters last month Mexico is the market showing more potential for growth, and the company is ready to roll out products at a faster pace next year.

Persons: Brendan McDermid, Ivan Canales, Brazil's Nubank, Valentine Hilaire, Sandra Maler Organizations: New York Stock Exchange, REUTERS, Reuters, Thomson Locations: New York, U.S, MEXICO, Mexico

☆ 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

☆ Brazil's Ebanx partners with Nubank to offer payment service to customers
▼ + stars: | 2023-07-11 | by ( Carolina Pulice | ) www.reuters.com time to read: +1 min

MEXICO CITY, July 11 (Reuters) - Brazilian financial technology company Ebanx said on Tuesday it has signed a deal to partner with digital bank Nubank to offer more payment services for customers as it tries to consolidate and expand operations in Latin America. Ebanx will now offer corporate customers the option of paying via NuPay, an alternative payment method developed by Nubank for international purchases. Alternative payment methods have helped drive the growth of e-commerce in Latin America and already account for 39% of the total digital commerce volume in the region, Ebanx said. In April last year, Ebanx announced a partnership with digital commerce platform VTEX (VTEX.N) to enable cross-border payments to Brazilian companies operating in Latin America. Ebanx also plans to kick off operations in eight African countries by the end of the year, the company said in a statement.

Persons: Ebanx, Paula Bellizia, Matthew Lewis Organizations: MEXICO CITY, Nubank, Reuters, Carolina, Thomson Locations: MEXICO, Latin America, NuPay, Mexico

MEXICO CITY, June 7 (Reuters) - One million people in Mexico have opened savings accounts in Brazilian digital bank Nubank (NUN.MX) one month after the product's launch, the company said on Wednesday, with deposits amounting to 1 billion pesos ($58 million). Nubank, owned by Buffett-backed Nu Holdings , said it is now present in nine out of 10 municipalities in Mexico. Nubank announced a $330 million equity capitalization for Mexico late last year, in a bid to expand its footprint in the Latin American country. In addition to its new savings accounts, Nubank has issued 3.2 million credit cards in Mexico, a country with more than 126 million people. The bank announced last month it expects to launch digital checking accounts in the South American country by the end of 2023.

Persons: Nubank, Valentine Hilaire, Sonali Paul Organizations: MEXICO CITY, Buffett, Nu Holdings, Citi, Thomson Locations: MEXICO, Mexico, Nubank's, Colombia, American

☆ Nubank to hike Colombia investments by $160 million by 2025
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +1 min

BOGOTA, May 31 (Reuters) - Brazilian digital bank Nubank , Latin America's biggest fintech company, will invest up to a further 700 billion pesos ($159 million) in its Colombian operations by 2025, its financial director for Colombia said on Wednesday. The additional sum, from the bank's own resources, will raise its investments in its third largest market behind Brazil and Mexico to 2 trillion pesos. Nubank has 635,000 credit card customers in Colombia, equivalent to a 3.6% market share. It has some 80 million clients in Brazil, Mexico and Colombia. Nubank reported a net profit of $142 million in the first quarter, swinging from a year-earlier loss of $45.1 million as its customer base grew.

Persons: Felipe Castellanos, Nubank, Nelson Bocanegra, Oliver Griffin, John Stonestreet Organizations: Thomson Locations: BOGOTA, Colombia, Brazil, Mexico, Bogota, Nubank

☆ 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.

Walmart de Mexico (Walmex) (WALMEX.MX) in April said it had bought Trafalgar, a payment app, to compete in a market dominated by Grupo Salinas' Baz, Oxxo's (FEMSAUBD.MX) Spin and MercadoPago of MercadoLibre (MELI.O). Executives at the Walmart unit expect the deal to "unlock Cashi's potential," starting with transfers, withdrawals and remittances while keeping open the option of loans and other financial services in the future. "We want to be the best financial services application in Mexico, and that requires constant investment," Marcelino Herrera, Walmex senior vice president of financial services, told Reuters. Walmart plans over $15 billion in capital expenditures for automation and alternate revenue streams in 2023, including its ad business, third-party marketplace, and deliveries. SYNERGIESWalmart has not defined fintech as a top investment priority but has poured money into it over the past year.

☆ The 2023 CNBC Disruptor 50: How we chose the companies
▼ + stars: | 2023-05-09 | by ( David Spiegel | ) www.cnbc.com time to read: +5 min

The last Disruptor 50 company to go public was Gojek, which debuted on the Indonesia Stock Exchange more than a year ago. The last Disruptor 50 IPO in the U.S. market, Nubank , happened on December 9, 2021. Here's how we chose them:All private, independently owned startup companies founded after Jan. 1, 2008, were eligible to be nominated for the Disruptor 50 list. The 2023 list also features the first founder to have two companies make the Disruptor 50 (Rodney Williams of SoLo Funds). Imagine what that number could have been a year or two ago …Special thanks to the 2023 CNBC Disruptor 50 Advisory Council, who again offered us their time and insights.

☆ Mexico's Banorte targets 3 mln customers for new digital bank -chairman
▼ + stars: | 2023-03-28 | by ( Saeed Azhar | ) www.reuters.com time to read: +1 min

NEW YORK, March 28 (Reuters) - Mexican lender Grupo Financiero Banorte (GFNORTEO.MX) is preparing to launch a digital bank late this year or in early 2024, which it hopes will add about 3 million customers, its chairman said on Tuesday. "We're expecting the last phase of approvals from the authorities," chairman Carlos Hank Gonzalez told Reuters in an interview about the new digital bank. Rafael Arana, the lender's finance chief, said the digital bank already has 200 staff, which could increase to 600 and 800 after it opens. The business will compete with Brazilian digital bank Nubank, which has aggressively expanded in Mexico and signed up 3.2 million customers. Banorte's digital bank plans to add 3 million customers after learning from its experience of offering credit card applications via mobile phones, Arana said.

☆ Factbox: Warren Buffett's investments in financial firms
▼ + stars: | 2023-03-23 | by ( ) www.reuters.com time to read: +3 min

[1/2] Warren Buffett, CEO of Berkshire Hathaway Inc, pauses while playing bridge as part of the company annual meeting weekend in Omaha, Nebraska U.S. May 6, 2018. Here is history on Buffett's involvement with banks and current holdings in his investment portfolio. The investment gave Berkshire preferred stock that paid a 10% along with warrants to pay $5 billion for 43.5 million Goldman shares at $115 each. Berkshire has financial services investments in other countries. Reporting by Jonathan Stempel in New York Editing by Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.

☆ Car financing fintech Carmoola just raised $125 million in a mix of debt and equity. Check out the 12-slide pitch deck it used to raise the fresh funds.
▼ + stars: | 2023-02-22 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +3 min

Car financing fintech Carmoola has raised $125 million in a mix of debt and equity. The London-based startup offers credit for used car purchases and incentivizes EVs. Car financing fintech Carmoola has raised $10.3 million in a Series A round led by QED Investors and a further $115 million in debt. The London-based startup, founded in 2022, employs a buy now, pay later approach to car financing by offering loans for used car purchases in the UK. A frustrating and expensive personal journey led to the former CEO of home rental company MoveBubble, moving into the car financing sector.

☆ 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.

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