Nubank launches Money Boxes for SME customers

São Paulo, December 4, 2023 – Nubank, one of the world’s largest digital financial services platforms, announces the expansion of Caixinhas (Money Boxes) for business account customers. Launched in July 2022 for individual users, the feature allows financial organization and planning in an uncomplicated, customizable way, with a yield. The feature will be gradually made available to business customers.

Based on a survey conducted with about 3,000 business owners and decision-makers among Individual Microentrepreneurs (MEI), and small and medium-sized enterprises, Nubank identified the opportunity to offer the first investment product for its SME Account. In the realm of MEIs and Microenterprises (ME), a little over half of participants said they have the habit of saving money, while in medium-sized companies, about 74% invest for the future.

Nubank’s study showed that, on average, 41% of business owners seek simple and easily understandable financial solutions. Additionally, 38% revealed that their primary needs include high liquidity and low-risk products. However, the appetite for risk and the willingness to invest money for a longer-term increase among medium-sized companies, mainly due to the possibility of higher returns.

“With Caixinhas integrated into Nubank’s SME account, we take another step toward our purpose of helping Brazilian entrepreneurs have even more control over their money with Nubank’s simplicity and efficiency. A significant portion of small and medium-sized businesses still don’t have the habit of saving. With this feature, we offer a new possibility to our business customers, so they can plan to achieve medium and long-term goals,” says Livia Chanes, Operations Leader of Nubank in Brazil.

The tool is simple to use: customers can deposit any amount from R$1.00 into different Caixinhas, which can be personalized based on goals and targets, such as tax payments, unforeseen expenses, equipment purchases, or any other entrepreneurial needs. The fixed-income asset in which the money can be invested is Nubank’s RDB (Bank Deposit Certificate), earning a yield of 100% of the CDI.

Similar to the experience with individual customers, the Caixinhas in Nubank’s SME account allow entrepreneurs to set financial goals tied to defined objectives. There is also a simulator that assesses the amount needed to reach the goal, and a dynamic bar to track the progress. The feature also allows for customizations when creating a Money Box, such as including specific names and photos in the app, thus connecting investing money to tangible plans for the business. Caixinhas is an essential innovation for a segment typically marked by traditional investment options with high initial values or specific periods.

New app visuals 

With a focus on simplification, Nubank is also redesigning its app for business customers. The new experience aims to bring more efficiency and improved navigation for the institution’s growing portfolio for the segment. As a result, the app will be divided into three tabs.

In the “Day-to-day” tab, the main features, such as the card, balance, and recurring actions like payments and transfers, are located. The collection center is available in the “Billing” tab. Finally, in the “Management” tab, financial management features are located, where users can organize the income and expenses of their business and utilize the Caixinhas. The new app experience will also be gradually rolled out to Business Account customers.