Nubank will strengthen its presence in Colombia with a loan of up to US$150 million from the International Finance Corporation, marking IFC’s first investment in a digital bank in Latin America and the Caribbean.
Our loan to Nubank means more Colombians will have access to more and better financial services. Greater financial inclusion is a must for economic growth, and digital banking will play a key roleMakhtar Diop, IFC’s Managing Director.
The loan will allow Nubank to pursue its strategy to become Colombia’s leading digital financial services provider and increase accessibility to financial services within the country.
This loan reflects confidence in our business model, the solidity of our operation, and the contributions we are bringing to Colombia’s financial inclusion, a country with low financial services penetration and high use of cashDavid Vélez, Nubank’s CEO and founder.
Nu Colombia is the fastest-growing credit card issuer in the country, with customers in approximately 80% of municipalities and 100% of provinces. They have issued over 400,000 cards in the last ten months.