Nubank’s Velez: Let the best product win

Brazil's Nubank is the world’s most valuable fintech in the digital banking space – now worth over $25 billion. In his first interview this year, chief executive and co-founder David Velez explains why he’s in no rush to IPO and why he would rather focus on the huge opportunity left in Brazil and elsewhere in the region.

Over the last 10 years the question most often posed about the growing number of fintech unicorns emerging around the world is whether their businesses – the vast majority of which were launched after the global financial crisis of 2007/2008 – could survive a global downturn.

It’s not a question that has ever challenged David Velez, chief executive of Nubank, the Brazilian digital bank that, thanks to a $400 million Series G funding round in January, is now worth more than $25 billion.

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