Nu Holdings: A Latin American Fintech Growth Story Trading Below $16
Nu Holdings, the digital bank with a $72 billion market capitalization, is capturing investor attention despite its primary operations in Latin America. The company's customer base has nearly doubled from 65 million in Q2 2022 to 123 million as of June 2024, now serving 60% of Brazil's adult population. Early-stage expansions in Mexico and Colombia show similar promise.
Rising smartphone penetration across developing Latin American economies creates ideal conditions for this digital-only bank. Nu's model thrives where traditional banking infrastructure remains inadequate, positioning it to capitalize on the region's vast unbanked population. Revenue growth mirrors this explosive user acquisition, though specific figures weren't disclosed in this excerpt.
