Nu Financiera will be able to offer credit cards, savings accounts and debit cards in a single application on Mexican soil
OR Nubank will realize a capitalization of US$330 million (equivalent to R$1.7 billion) in its Mexican operation, according to a statement released on Tuesday 6. Fintech did not provide further details on the allocation of funds.
Last week, in an interview with Stadium/BroadcastCEO and co-founder of Nubank, David Vélez said the fintech will use part of the funds raised in its initial public offering (IPO) to invest in the Mexican operation🇧🇷
On a consolidated basis, Nu has achieved financial stability, but positive results have come from the operation in Brazil, which is the largest and most mature of the group. In its IPO, the neobank raised about $2.8 billion and hadn’t used most of its assets up to that point.
Nubank also reported that Mexico’s Comisión Nacional Bancaria y de Valores (CNBV), the local regulatory body, has authorized Nu Holdings to acquire the loan portfolio of Nu Bn Servicios México. From this authorization, Nu Financiera, which is a popular financial institution (sofipo), will be able to offer credit cards, savings accounts and debit cards in a single application on Mexican soil, starting this Tuesday 6.
“This milestone reinforces the company’s long-term vision and commitment to Mexico and will enable the expansion of its products in the country,” Nubank says. In Mexico, the group also has two other subsidiaries.
🇧🇷The best content in your email for free. Choose your favorite Terra newsletter. Click here!
Source: Terra
Camila Luna is a writer at Gossipify, where she covers the latest movies and television series. With a passion for all things entertainment, Camila brings her unique perspective to her writing and offers readers an inside look at the industry. Camila is a graduate from the University of California, Los Angeles (UCLA) with a degree in English and is also a avid movie watcher.
