Nubank PJ celebrates 5 years helping entrepreneurs save 40 billion reais in fees

São Paulo, August 21, 2024 – Nubank, the largest digital financial services platform outside Asia, celebrates the 5th anniversary of its account for micro, small, and medium-sized enterprises, the PJ segment, which has already surpassed the 4.3 million customer mark. The annual growth of 47% reflects the relevance of the portfolio, which has been expanding to meet all client needs, simplifying the lives of Brazilian entrepreneurs who, over these 5 years, have already saved more than 40 billion reais in fees, both for account or credit card maintenance and in PIX transactions.

Since its launch in 2019, more than 1 million credit cards have been issued, with 600 thousand customers obtaining their first business credit card through Nubank. “The Nu PJ account was created based on the requests from our individual customers, who wanted to have the same type of transparent, uncomplicated, fee-free, and well-serviced experience for their businesses. Providing access to a specific business credit card was one of the ways to meet the needs of this audience,” says Lívia Chanes, CEO of Nubank in Brazil. 

Tailored Credit and Investments 

Launched in December 2023, Nubank’s PJ cash boxes, which yield 100% of the retroactive CDI after 30 days, now total 1.45 billion reais in assets under custody. They have proven to be a great ally for entrepreneurs in managing cash flow, as 41% of them were created with the name “Emergency,” about 27% were named “Others,” 19% were for “Improvements,” 21% for “Organization,” and 9% for “Investments.” This is a tool that has shown to be very important for the financial organization of businesses for entrepreneurs and will continue to gradually evolve to be an even greater ally in management. 

“We know that access to credit is one of the biggest pains for PJ, so we have been working to develop flexible, transparent, and uncomplicated solutions for this audience. The idea is for them to have credit options that help them manage their business according to fluctuations and, moreover, without resorting to personal resources, having more options to manage business finances without mixing with personal finances,” adds Lívia. 

Nubank also offers a Working Capital solution, providing access to a line of credit designed to meet cash flow needs and other commercial demands, following Nubank’s transparent and fee-free policy. Additionally, there is the Credit Limit Transfer, which allows transferring up to 99% of the available limit from the Nubank or Nubank Ultravioleta card to the business card, providing more efficient and flexible financial management by considering the entrepreneur in both their individual and business profiles. Another tool available is the Nu Guaranteed Limit, gradually made available to customers and allows for an increase in the credit card limit through investments in RDBs – yielding the same as the PJ cash boxes – made in a Nubank PJ Cash Box as collateral. This tool has been expanded to most PJ credit card customers to help entrepreneurs looking to extend their credit limit while investing. 

In the coming years, Nubank will continue to focus on evolving and simplifying the lives of PJ customers, eliminating bureaucratic tasks. “We want to increasingly free up the time that customers currently spend on financial management activities so that they can focus on what truly matters: the success and growth of their business. We want to be the complete solution for all of our clients’ financial needs, both individually and in business,” emphasizes Lívia. 

Latest Releases 

Over the past 12 months, besides the mentioned credit solutions, Nubank PJ has also introduced other functionalities tailored for customers. Among them:

• Browser Access: a desktop solution that allows PJ customers to access Nubank via computer to check balance and issue statements.
• Invoice Issuing: in the testing phase, this feature allows issuing, storing, and managing invoices directly through the browser. 
• Shared Access: allows shared access to Nubank PJ among different people working in the business, with specific profiles for each role, such as Administrator, Consultation, and Operation. 
• Tap to Pay: now available for iOS and Android, enabling 100% digital cell phone payments without the need for a card reader, monthly fees, or joining costs.

Additionally, Nubank PJ offers solutions besides the account itself, such as a credit card with a limit transfer feature between individual and business profiles, payment link, billing slip, MEI Tax Central, NuPay, investments, among other products. Individual entrepreneurs or companies with more than one partner can open an account directly through the Nubank app or the Nubank PJ website, following a simple and fast process.