Nu Holding raises investment in the Mexican market to over $1,4 billion dollars

Mexico City, April 16th, 2024. Nu Holdings Ltd. (NYSE: NU), one of the largest digital financial services platforms in the world, announced today that it will increase Nu Mexico’s equity capitalization by US$100 million, raising its investment in the country to over US$1.4 billion dollars. This move solidifies the company position as one of the most significant foreign investors in the financial sector in the country.

“This investment expansion reflects Nu’s long-term commitment to Mexico and is in line with the holding’s strategy to prioritize the country as the main focus for the company in 2024. The investment aims to support the portfolio expansion of Nu Mexico and strengthen our presence in all segments of the Mexican financial market”, highlighted Iván Canales, General Director of Nu Mexico.

Nu Mexico is the largest Sofipo in the sector in terms of number of clients, and its total equity represents almost 51% of the entire sector as of March. In just the last quarter of 2023, the operation registered around 1 million new customers, totaling 5.2 million customers for the year. Already in January 2024, Nu México announced that it surpassed the mark of 5.5 million customers. 

“With this new investment, Nu México reaffirms its position as one of the best-capitalized financial institutions in the country. As we have stated, Nu Holding has the capacity and willingness to invest and support the evolution of the local operation. This financial strengthening not only consolidates our position in the market but also sends a clear message about our commitment to staying at the forefront, offering innovative and accessible financial solutions for everyone in Mexico”, emphasized Cristina Junqueira, CGO and co-founder of Nubank.

Constant innovation

The product portfolio continues to strengthen. The offer already has Credit Card, Cuenta Nu, Secured Card as well as Personal Loans, and during the first quarter of 2024 new functionalities were integrated such as the ability to send money from the United States to Mexico, payments through Dimo, and the enablement of cash deposits at any Soriana establishment cashier, affiliated with the Arcus by Mastercard network.

“We have a strong position, which allows us to invest in the innovation and evolution of our portfolio. For example, we are working on offering our customers a new possibility, to freeze their money in the ‘Cajitas’, to access fixed returns for a predetermined period. Our plan is to start testing this new option in the coming months”, explained Canales. Additionally, the company will be exploring future alternatives to further understand the financial habits of its customers, through the development of secured credit lines. These innovations present multiple ways for customers to make the most of their money, seeing it grow day by day and being rewarded for good financial habits such as saving and planning.

For more information, visit the blog www.blog.nu.com.mx