This money will be invested in technological development and product innovation, in the growth of the client base and in attracting the best talent in those countries.
“The rapid growth we have seen in Mexico and Colombia has exceeded our most ambitious expectations. This financing is a reflection of the confidence of major investors and shareholders in our business model and growth potential,” said David Vélez, CEO and founder of Nubank, in a statement.
The resources come from a three-year line of credit financed by Morgan Stanley, Citi, Goldman Sachs and HSBC.
“We redoubled our commitment in Mexico and Colombia to continue growing and generating a positive local impact through the financial inclusion of millions of Latin Americans,” added the manager.
Nubank, a company founded in 2013 in Brazil, began its internationalization strategy three years ago with the launch of the operation in Mexico in 2019 and later in Colombia in 2020.
It currently has around 54 million clients at a regional level.