With 4 million customers, Nu Colombia records accelerated growth and expands credit portfolio

São Paulo, December 11, 2025 – Nubank celebrates an important milestone in Colombia: it already serves 4 million customers, the equivalent of one in every ten adults in the country. The result reinforces the strategic role of the Colombian operation within the company’s international trajectory, which has been investing in the diversification of the local portfolio, with innovations that specifically address that market, mainly in credit offering.

Marcela Torres, Country Manager of Nu Colombia, highlights that this is a very significant number, especially when considered within the company’s global operations. “Brazil, Mexico, and Colombia reached the 3 million customer mark in the fourth year. But the feat is that Colombia’s population represents a quarter of Brazil’s population and 40% of Mexico’s population. In practice, this means that Mexico is growing faster than Brazil, and Colombia is growing faster than both.”

In the latest episode of Nu Videocast, Marcela explains the reasons behind the operation’s accelerated performance. The first is a top-notch team. Allied to this are advanced proprietary technology and a value proposition that found strong adherence in the Colombian market, especially in the face of high concentration and the fees charged by large banks. There, only 35% of the population has access to formal credit.

“Usury rate”

Apart from the similarities, Colombia also has peculiarities that the Nubank team pays attention to. The country operates, for example, with the so-called “usury rate,” a cap on interest rates — currently around 25% — that limits the capability of financial institutions to price in the additional risk of serving consumers with little or no credit history, explains Marcela.

As a result, many of these customers end up excluded from the formal system, despite the original intention of the policy. The executive summarizes this effect by stating that “it is a well-intentioned policy, but in practice, it ends up excluding precisely those it intended to protect.”

Nu Colombia has been working to show regulators that this makes the market less competitive and “pushes” the population toward informal creditors. “We are pressuring for instant payments, for the liberation of fees or at least for more freedom to define prices,” says Marcela.

Innovation and financial inclusion

In a market that remains homogeneous and restrictive, Nubank’s product portfolio in Colombia is expanding, designed to increase credit access and serve the population excluded from the financial system.

In addition to Moradita, a card with no fees, the institution offers NuControl, created specifically to increase the capacity for inclusion in a market limited by the interest rate ceiling. Marcela explains that it was necessary to innovate to reach this model that would be advantageous for the business and for customers: “we designed with the global teams a card that has a small fee — much lower than the market average — and that allows us to include not only 15% of people but reach 40%”.

Morada Abre Caminos was developed for consumers without a credit history, who, through gamification, learn to control their finances while building this financial relationship with Nu and creating paths for credit expansion.

Nu Colombia also launched, in 2025, two lines of loans for its clients: Préstamo Ligero, with a lower-value credit line, and Préstamo Personal Nu, which caters to higher values and longer payment terms. In addition to having consolidated its digital account among the five largest deposit bases in the country in just one year since its launch.

Finally, Marcela highlighted that the Colombian operation also begins to influence the global strategy, exporting agile collaboration practices, a culture of experimentation, and models that can guide Nubank’s entry into countries with similar market structures.