While U.S. neobanks like Chime and SoFi grab headlines, Nu Holdings (NU) quietly became the third-largest financial institution in Brazil.
By the end of 2024, NuBank reported 114 million global customers - a 22% jump year-over-year.
114 million people now use NuBank for their banking needs.
Here’s what’s going on:
South and Central America have less banking infrastructure than the U.S. or Western Europe.
Translation? Populations in these regions are jumping straight to digital-first banking, skipping traditional banks entirely.
Nu Holdings spotted this opportunity early. The company launched NuBank with the same principles that made U.S. neobanks successful - no fees, digital-first service, and easy access.
Then it doubled down on markets where traditional banks were failing to serve everyday customers.
The results speak for themselves. Nu Holdings' revenue exploded from minimal figures in 2018 to over $5 billion in 2024.
Let’s break down what investors need to know about this potential opportunity and what Nubank’s future could look like.
We broke down this stock and other potential opportunities in our full Market Briefs Report.
Nu grew up serving economies that know exactly what currency erosion feels like. Our CEO Jaspreet Singh explains the lesson on September 29th in his free workshop on how to profit from a dollar that is losing its value.
The Growth Story
Nu isn't just stopping at banking - the company recently expanded into travel booking and cell service offerings specifically designed for its primary markets.
High growth plus strategic reinvestment of profits? That's the formula investors look for in companies positioned for long-term success.
Right now, NU stock trades at around $18 per share (as of early 2026), up about 52% in the last 5 years.
The Bigger Picture
Customer banking habits are changing, especially among younger demographics.
Neobanks accounted for 44% of all new U.S. checking accounts in 2024, up from 36% in 2020.
The number of young adults who use traditional banks as their primary bank fell 9% since 2020.
Nu Holdings is capturing this wave in markets with even fewer banking options than the U.S.
What Nu Could Mean For Investors
Nu Holdings has the hallmarks of a company on its way up - massive user growth, expanding revenue, and strategic market positioning.
The Central Bank of Brazil already recognizes NuBank as the third-largest financial institution in the country.
That's not a startup anymore - that's a major bank built entirely on digital infrastructure.
Investors who understand the neobanking shift happening globally may find themselves on the ground floor of the next generation of major banks.
However, Nubank could miss expectations - and geopolitical tensions, inflation, or other economic issues may damage its ability to earn money.
As always - no opportunity is ever guaranteed. Always do your own due diligence and research before investing.
Banking in a weakening currency is a live experiment worth studying. Join our CEO Jaspreet Singh on September 29th for a free workshop on how to profit from a dollar that is losing its value.
