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Nubank has received formal approval to offer savings account in Colombia. The neobank is on track to become the largest digital financial services platform in Latin America.

9 ianuarie 2024

Nu Colombia, a subsidiary of Nubank in the country, announced that the Financial Superintendence of Colombia (SFC) has officially approved its application to operate as a financing company. This achievement not only marks a significant milestone for Nu Colombia but also paves the way for the expansion of its product portfolio into savings with the upcoming launch of Cuenta Nu, a pivotal move for its long-term vision for the country. 

Becoming a financing company is a key milestone in Nu’s growth plan, as the company aims to become a leader in digital financial services in Colombia. Currently, the company has customers in 100% of the country’s departments, and as of September 2023, it had reached 800,000 customers, only with its credit card product.

“Obtaining this license is the result of months of hard teamwork and represents a fundamental step in our journey in Colombia, as it enables the right regulatory framework to launch Cuenta Nu and further expansion of our product portfolio. Cuenta Nu will help Colombians reach their saving goals and financial plans, and will allow us to broaden our impact to millions of people by saying ‘yes’ to everyone”, says Marcela Torres – General Manager of Nu Colombia.

Nu has demonstrated its commitment to the country, not only through obtaining the operating license but also through significant investments. The company celebrated its second anniversary in 2023 by announcing a capitalization of approximately US$150 million for the next two years, which, combined with investments made since 2021, totals close to US $450 million. Additionally, in September, IFC increased the A/B loan it had granted to the company: from the initial commitment of US$150 million to a total amount of US$265.1 million.

On a global level, Nu continues to grow. In Mexico, the customer base has increased to 4.3 million, driven by the launch and expansion of the savings product, and in Brazil, the product portfolio continues to strengthen, including credit cards, savings accounts, and personal loans, reaching approximately 39 million, 65 million, and 7 million active customers, respectively.

The first step in obtaining official approval to establish a Financing Company in the country was in August 2022, when the company announced the launch of lending services in Colombia. At that time, the neobank mentioned that Colombia and Mexico are two extremely strategic markets for the company. Together with Brazil, the third country where Nu operates, they represent 60% of the GDP and population of Latin America.

That is why Nu Colombia’s commitment is long-term. In June, it announced the investment of 1.5 billion Colombian pesos over the next 5 years, a figure that adds to the one shared in April (2022) when it announced the obtaining of a credit line of US$650 million, which will be invested in the markets of Mexico and Colombia. 

After a year and a half of local operation, Nu reached 211,000 customers as of March 31, 2022, and has managed to win clients in all departments of the national territory. Between September 2021 and March 2022, the company quintupled its user base and reached close to 90 in NPS (Net Promoter Score, an indicator of customer satisfaction).


Nubank was born in 2013 with the mission to fight complexity to empower people in their daily lives by reinventing financial services. Currently, Nubank is one of the world’s largest digital financial services platforms, serving 90 million customers across Brazil, Mexico, and Colombia.

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Anders Olofsson – former Head of Payments Finastra

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Many more interesting quotes in the video below:


In 23 septembrie 2019, BNR a anuntat infiintarea unui Fintech Innovation Hub pentru a sustine inovatia in domeniul serviciilor financiare si de plata. In acest sens, care credeti ca ar trebui sa fie urmatorul pas al bancii centrale?