Nu Colombia received formal approval to establish a Financing Company in the country

Bogota, August 10, 2022 – Nu Colombia, a subsidiary of Nubank, confirms that the Financial Superintendence of Colombia (SFC) formally approved its request to obtain the license to establish a Financing Company. This milestone, which reinforces Nu’s long-term vision and commitment to the country, will allow it to expand its portfolio of savings products in the future.

This is the first of two licenses the company must obtain in the country to offer savings options in its portfolio. 

“We are very happy to announce this approval that gives us the opportunity to continue working to become the leading digital financial services in Colombia. Likewise, we celebrate that we have been showing sustained growth that has allowed us to have customers throughout the country. We know that this is only the first step in a process that has several stages and which we will continue to manage constantly, as it represents our commitment to the future,” says Catalina Bretón, General Manager of Nu Colombia, who adds, “We will continue to contribute to our country and positively impact millions of people.” 

Colombia and Mexico are two extremely strategic markets for the company. Together with Brazil, the third country where Nu operates, they represent 60% of the GDP and population of Latin America.

That is why Nu Colombia’s commitment is long-term. In June, it announced the investment of 1.5 billion Colombian pesos over the next 5 years, a figure that adds to the one shared in April when it announced the obtaining of a credit line of US$650 million, which will be invested in the markets of Mexico and Colombia. 

With a year and a half of local operation, Nu reached 211,000 customers as of March 31, 2022, and has managed to win clients in all departments of the national territory. Between September 2021 and March 2022, the company quintupled its user base and reached close to 90 in NPS (Net Promoter Score, an indicator of customer satisfaction).