Nubank 10 Years: 10 lessons from the first decade – By Cristina Junqueira

Ten years ago, I made one of the most important decisions of my life: to embark with David and Ed to challenge the financial system in Brazil on behalf of customers. We believed in Nu in 2013 and today 80 million people do too 🎉

We built the 5th largest financial institution in Brazil and expanded our portfolio and reach in an integrated way, using the experiences of the first market to grow even more efficiently in the following ones. We continue to learn a lot. I’d like to take this opportunity to share lessons from these first ten years – I hope they are useful for those who follow us 💜

Culture. Defining the company’s culture should be the absolute first priority, and it needs to be clear to everyone. At Nu, we are guided by love for our customers, responsibility, efficiency, teamwork, and non-conformity.

Talent. We joked that the first employee screening took place as soon as the candidates arrived at the Casinha (our 1st headquarters). Some turned around and walked away. Those who remained really believed in what we were building. Today, our thousands of talents share that culture – they are passionate, efficient, adaptable, and customer-obsessed.

Adaptability. My mission is to be where I am relevant and make a difference for the team. Being adaptable does not depend on your background – it has more to do with facing challenges with curiosity and learning a lot and very quickly.

Obstacles. Nu was born in a moment of crisis, we’ve always been used to adversity. Obstacles require a focus on what is within our control: doing what’s best for our customers. Success is a natural consequence.

Opportunities. Those who are prepared are able to find opportunities in crises. We doubled down on our focus, invested in efficiency, and studied new customer needs, as well as opportunities for consolidation or paradigm shifts.

Growth. If you always hit the targets, it means they could be bolder. We always set higher goals than we believe is possible to achieve, and yet we are constantly surprised, surpassing the most audacious goals.

Focus. It is essential to direct efforts and avoid spending energy on what doesn’t bring results. Our focus has always been the customer, and this guides our decisions. Even so, we need to have the discipline to say many nos, to be able to have the right to get it right.

Long-term. If you know where you’re going, it’s easier to focus. Distractions will always exist, and it’s common to solve a short-term problem without looking at the future consequences. Or failing to make the best decisions that accumulate long-term gains.

Technology. Being digital makes us more efficient and flexible, and allows for an even more relevant impact. We are always looking for opportunities to expand access to financial services through technology, which at the same time makes the business more agile and scalable.

Debureaucratization. This complicated word translates on several practical fronts. We have a simple-to-use interface, direct and clear customer service, and understandable contracts and conditions. And fighting complexity is at the heart of our purpose.

Cristina Junqueira – Co-founder and Chief Growth Officer