Over little more than a decade, Nubank has become one of the world’s largest digital banks. By early 2026, it had surpassed 112 million customers in Brazil alone, equivalent to more than 60% of the adult population, making it the largest private financial institution in the country by customer numbers.
The bank now serves more than 130 million customers across Brazil, Mexico and Colombia, adding more than 17 million net new customers in 2025. This customer growth is matched by high engagement: 83% of its customers were active users by late 2025.
Nubank describes its main priority as building the largest and most-loved digital retail banking franchise in Latin America. In Mexico, it plans to invest $4.2 billion in the market by 2030. Nubank Mexico is approaching 14 million customers, with around 78% of its users located outside major urban centres and nearly half obtaining their first credit card through the platform. The Mexico operation is also preparing to transition into a fully licensed bank in 2026.
Across our markets, we launched more than 100 new products and features. More important than the number was the intent
David Velez
It received conditional approval from the OCC in January 2026 to establish a US national bank, marking a step in its longer-term international expansion strategy.
In its 2025 year-end results, the bank reported compound annual growth of 68% in revenue since 2021 and 152% in net income since 2022 – reaching $4.9 billion in revenue and $895 million in net income in the fourth quarter of 2025 alone, with return on equity of 33%.
Compounding growth
The bank has been a leading driver of Brazil’s Pix ecosystem, introducing features such as tap-to-pay Pix, automated bill payments and AI-enhanced transaction management. AI is also used in an increasingly sophisticated way in credit underwriting, fraud prevention and customer interaction. Pix with AI alone has exceeded 10 million monthly active users.
Other product rollouts include introducing Worker’s Credit, a fully digital payroll-linked lending product that enables users to compare offers and access borrowing through a streamlined interface. Its under-18 proposition allows teenagers to access a credit card backed by their own savings. Early data suggested strong engagement, with savings balances and transaction activity increasing steadily.
The bank has continued to build out its SME franchise through Nu Empresas, combining rapid, digital onboarding with no-fee accounts, working capital lending and integrated payments tools. New features such as a fee calculator and an automated collections assistant have reduced friction for small businesses while improving cashflow visibility and efficiency.
More than six million customers have renegotiated debts through Nubank’s tools. Its Fresh Start (Recomeço) campaign provided a structured pathways for customers to rebuild financial health, supported by education and transparent terms.
“Across our markets, we launched more than 100 new products and features,” CEO David Velez said at the results presentation. “More important than the number was the intent. Each launch aimed to deepen engagement, expand access, and strengthen unit economics. Individually, these initiatives are incremental. At scale, they compound.”
