Nubank (NYSE: NU) announced they have reached 10M customers in Mexico, doubling its customer base in Mexico in 12 months.
Nubank continues to grow its customer base across Brazil, Mexico, and Colombia with the introduction of new products and partnerships.
As part of its global expansion strategy, Nubank is exploring relocating its official corporate address from the Cayman Islands to the United Kingdom to support a potential entry into the United States.
Nubank aims to continue expanding in Mexico, offering new credit products. Nubank also plans to expand internationally and move its legal domicile, currently the Cayman Islands, to the UK, in an expansion move that could include the US and emerging countries in Asia and Africa.
“We are actively considering which jurisdictions make sense for us to evaluate as we think about the next 10 years of global expansion,” said Nubank’s Co-founder and CEO David Vélez.
Founded in 2013, Nubank serves customers across Brazil (over 100M), Mexico (over 10M), and Colombia (over 2M). The neobank recently surpassed Itaú to become Brazil’s third-largest bank by customer count.
Read more on LatamFintech Hub and DFSud.
