We have seen many companies in fintech branch out into adjacent areas of finance as they add product lines to...
Many of these firms have aimed to go public in the vague "end of 2021/ early 2022/ when we have enough money" time frame while participating in increasingly rare-letter funding rounds.
We are focusing on Latin America again this week in the lead-up to LendIt Fintech LatAm next month. This week...
David Velez founded Nubank in 2013 with the idea of taking on big banks in Brazil and leveraging technology to change how financial products are served in the country radically.
In 2021, firms who had stayed alive through the initial pandemic became giants: fintechs became banks, banks became super apps, and super apps became some of the most successful public companies in the world.
Marc Butterfield, SVP of Innovation and Disruption at the First National Bank of Omaha, said that the results were significant when FNBO ran tests.
'Nu's valuation is not crazy. In fact, they are valuing each customer at about $1,000, whereas U.S. and European neobank valuations put their customers closer to $2,000.'
LatAm fintechs have a massive advantage over traditional financial companies: a lack of a robust, cost-heavy physical infrastructure that thwarts cross-border expansion.
After exactly two years since the last in-person event, Bo Brustkern and Peter Renton took to the LendIt keynote stage to welcome hundreds of Latin American fintech and financial services executives.
Shares of Nubank have weakened since its initial public offering, losing some $20 billion in market value since it went public.