Nubank is shaking the Brazilian fintech market

Nubank since its launch services and the announcement of the company’s release of $ 14.3 millions in the series A, the Nubank got over 200 thousand applications from interested users, half of which are already on the waiting list.

Nubank has been working to fill a gap in the Brazil market, taking advantage of existing inefficiencies of traditional financial service providers (which do not get to many cities of the country) coupled with technological innovations inherent in the company. It is a Brazilian company that is inserted in the era of digital banks. What are the digital banks? While they still have to be governed by international rules of some patents as Visa and Master, now offer some innovations, especially as the mobile financial services. How directly linked to traditional banks are cannot speak a full banking disintermediation, but there have been cases where not charge credit card maintenance fees.

The startup Nubank was launched in 2014 and now has 100 000 customers waiting for their card. The big advantage is the low value of tariffs, lower than its competitors. The company recorded a growth of users between 30-40% every month (2015).

Within these requests we can find a middle line that gives us that whoever adhere this card from Nubank and its platform for iOS and Android systems are persons up to 35 years entered in classes A and B, mostly. It will also see the launch of a version of the service for Windows Phone by the end of this year. Nubank offers credit cards with no annual fee or rate, and offer an application that allows all online transactions, including in your mobile device.

The growth of such companies and business tends to grow exactly for the large number of young people in the country that is more receptive to technological innovations, with lower barriers to innovation and who regard the Internet as already being an essential good in people’s lives.

The Brazilian company Nubank is growing on average 63% every month, according to vice-president of the innovator. Growing gradually and is the primary objective focused growth in the country and only then proceed to the globalization of the company. While it affirms the desire to expand to other countries, the  Vice President highlights the fact that Brazil is very large and solid implementation in the country takes time and requires care. Taking into account that half of Brazilians are under the age of 30, a generation that was born in the Internet age, it becomes evident the potential growth of this company, as well as others that depart from the traditional levels of banks, and payment methods such as debit and credit cards linked to a bank account.

The image of the unknown world of the Internet widens increasingly opening doors for online businesses, as well as the innovations inherent in them. The Nubank fits into this group of innovative companies who were able to enjoy the right time and the right opportunities to gain notoriety within the Brazilian people, not letting stop there.


Author: Team Fintech Brazil

Mapping Fintech Companies in Brazil

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