Brazilian digital banking giant Nubank is expanding its presence in Colombia after receiving government approval to operate a financial services company in the country.
“The company aims to become a leader in digital financial services in Colombia. “Obtaining this license is the result of months of hard team work and represents a fundamental step in our journey in Colombia, as it provides the right regulatory framework for the launch of Cuenta Nu and the further expansion of our product portfolio .” says Marcela Torres, CEO of Nu Colombia.
Nubank, which has tens of millions of customers in its home market of Brazil and more than 4 million in Mexico, is betting big on Colombia, recently committing $150 million to the country over the next two years.