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Companies · NU

NU Reported this cycle

Nu Holdings

São Paulo, Brazil Founded 2013 Fintech & Payments

AI-generated · informational only · not investment advice · verify before relying.

Latest analysis

Updated Aug 13, 2026

Nu Holdings Q2'26: $1.1B net income, 139M customers, Mexico launch completed

Nu Holdings achieved $1.1 billion in net income for the first time in Q2'26, up 49% year-over-year, driven by 39% revenue growth to $5.9 billion and a risk-adjusted NIM expansion of 290 basis points to 12.4%. The company completed its transformation into Mexico's largest digital bank with 16 million customers post-launch, while deepening Brazil market dominance with 118 million customers and introducing Croma for premium segments. NuFormer, Nu's AI foundation model for financial behavior, now powers underwriting and customer service across multiple portfolios, with AI agents handling 60% of support conversations at or above human parity.

Tone: bullish

Revenue

$15.8B

NU 20-F · FY 2025

Employees

10,027

Revenue FY2024

$11.5B

Founded

2013

Profile

NU 20-F Item 4.B · Apr 8, 2026

Nu Holdings is a digital financial services platform serving 131 million customers across Brazil, Mexico, and Colombia. Founded in 2013 and launched in Brazil in 2014, it disrupts incumbent banks through a fully digital, low-cost model spanning credit cards, loans, savings, investments, insurance, and payments. Its proprietary NuCore technology platform and NuX credit engine underpin its self-reinforcing business model.

Read filing description ↓

We launched Nu to revolutionize financial services for Latin American consumers and small businesses, challenging the status quo of incumbent banks. These banks historically applied homogeneous underwriting methodologies and lacked customer obsession, often resulting in high fees and interest costs for consumers. We are in the early stages of becoming a technology company that is revolutionizing a broad range of services by putting the customer at the center of their strategies and designing experiences based on mobile-first and cloud-based models. Our business is based on four core principles: (1) having a customer-centric culture; (2) prioritizing human-centric design, products, services and interactions to create extraordinary customer experiences; (3) developing advanced proprietary technologies built from the ground up by some of the best engineering talent from around the world; and (4) leveraging data science and powerful proprietary models that support every aspect of our business. To date, we have made substantial strides with our Money Platform, which comprehensively supports users through what we call the 'Five Financial Seasons': spending, saving, investing, protecting, and borrowing. As of December 31, 2025, we had 131 million customers across Brazil, Mexico and Colombia. We believe Nu is one of the world's largest digital financial services platforms, and one of the leading technology companies in the world. Our self-reinforcing business model includes seven key elements: more customers, more engagement and scale, more data, lower costs, attractive fees and rates, better products and experiences, and a growing Nu ecosystem. In Brazil, we became the largest private financial institution by number of customers, reaching 113 million customers and serving 62% of the population. Our revenues grew 37% year-over-year, to US$15.8 billion in 2025, while net income grew 45% from 2024 to close at US$2.9 billion.

Primary products

  • Nu Credit and Prepaid Card
  • Nubank+ Tier
  • Ultraviolet Tier
  • NuAccount (Nu Personal Accounts)
  • Nu Business Accounts
  • Nu Business Prepaid and Credit Card

End markets

Individual consumers Small and medium-sized enterprises (SMEs) Micro-businesses (MEIs)

Geographies

Brazil Mexico Colombia United States Uruguay

Named customers

Amazon Casas Bahia Magalu Epay Hopper

Named competitors

Itaú Unibanco S.A. Banco Bradesco S.A. Banco Santander (Brasil) S.A. Caixa Econômica Federal Banco do Brasil S.A. Banco BTG Pactual S.A. Banco Inter S.A. Banco C6 S.A.
“We believe we are redefining how consumers engage with financial products and services and contributing to market expansion.” Competitive position, as stated in the filing

Revenue commentary · FY 2025

Total revenue increased to US$15,774.8 million in 2025 from US$11,517.0 million in 2024; the filing states revenues grew 37% year-over-year.

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Analysis, signals, diligence answers, M&A activity and every quote, each citing the filing it came from.

SeventhBiz analysis 6 signals 9 diligence answers 1 M&A transactions SWOT