Nu

Nu is the Mexican subsidiary of Nubank, one of the world's largest digital financial services platforms headquartered in São Paulo, Brazil. The company entered the Mexican market in 2019 and has rapidly become one of Mexico's largest financial institutions, serving 12 million customers as of 2025, representing approximately 25 percent of the country's banked population. Nu operates as a Sociedad Financiera Popular (Sofipo) regulated and supervised by the Comisión Nacional Bancaria y de Valores (CNBV), Banco de México, and Condusef. In April 2025, Nu received approval for a banking license from the CNBV, becoming the first Sofipo in Mexico to obtain authorization to transform into a commercial bank, though it continues operating as a Sofipo while undergoing the regulatory audit process required to begin full banking operations. The company offers a comprehensive suite of financial products including a no-fee Mastercard credit card, Cuenta Nu (a digital savings account with competitive yields), a debit card, personal loans, and secured credit cards. Notable features include Cajitas, a savings tool that allows customers to separate funds for financial planning while earning returns, and Cajita Turbo, offering 15 percent annual yields with instant liquidity. Nu targets underserved populations and promotes financial inclusion, with approximately 22 percent of its customers having accessed the formal financial system for the first time through Nu, and 36 percent reporting having been rejected by traditional institutions. The company's 100 percent digital business model has enabled it to reach 98 percent of Mexico's municipalities, including rural priority areas. Nu has invested over 1.4 billion dollars in the Mexican market and reported 4.5 billion dollars in deposits by Q4 2024.