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 stable report.
Not like many fintechs on this nation, Nubank is solidly worthwhile and has been for some time. It posted a internet earnings of $361 million for This autumn, that isn’t a income quantity, that’s revenue.
For the 12 months Nubank’s internet earnings was $1.0 billion. Let me repeat that: Nubank made $1 billion in internet revenue in 2023.
They’re fairly seemingly probably the most profitable firm within the historical past of fintech. Whereas many massive fintech firms are nonetheless on their journey to breakeven Nubank exhibits us what is feasible.
They’re now the fourth largest financial institution in Brazil the place they’ve 90 million prospects or half the grownup inhabitants. And but they’re nonetheless including over a million prospects a month.
A deep dive into their earnings report will likely be time properly spent for everybody in fintech.
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