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Brazil's Nubank eyeing Colombia

Bnamericas Published: Tuesday, September 29, 2020
Brazil's Nubank eyeing Colombia

Brazilian challenger bank Nubank is planning to expand into Colombia, La República newspaper reported.

In Brazil, the fully digital player has more than 20mn clients.

Outside its home market, Nubank operates in Mexico, where it offers a Mastercard. One of the region’s first tech unicorns, Nubank also has a development hub in Argentina.

Colombia's financial services segment is poised to get new players. Among other developments, digital bank Lulo Bank has been granted a license, while digital wallet and merchant payment solution MercadoPago and prepaid card and money transfer app Ualá are are looking to enter the financing company space. 

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