NuBank Revenue and Usage Statistics (2022)

David Curry

Updated: May 4, 2022

NuBank is the largest neobank in the world, with over 45 million customers in Brazil, Mexico and Colombia.

Built as an alternative bank without the extortionate fees Brazilian’s regularly faced, NuBank quickly drew a large community of unbanked customers.

Co-founder David Vélez had worked as a partner at Sequoia Capital and co-founder Cristina Junqueira was previously employed by the largest bank in Brazil.

In the first few years, NuBank struggled to meet the demand, with a waiting list of over 20 million in 2017 while it only had four million customers.

Demand has not slowed either, with the app adding 15 million new customers in 2020 and 13 million new customers in the first nine months of 2021.

It plans to launch in more South American countries in the next few months, which could see NuBank’s total customers rise to over 100 million within the next five years.

NuBank is also preparing an IPO on the NASDAQ in the fourth quarter of 2021, potentially valuing the company at $50 billion. This would be one of the first neobanks to go public, and a good tester for other apps like Chime, Monzo and Revolut.

We have collected data and statistics on NuBank. Read on below to find out more.

NuBank key statistics

  • NuBank reported $963 million revenue in 2020, an 84% year-on-year increase
  • Net losses also decreased, from $312 million in 2019 to $230 million in 2020
  • Over 48 million people use NuBank, over 35 million of those are Brazilians

NuBank overview

Launch date May 2013
HQ São Paulo, Brazil
People David Vélez (co-founder, global CEO), Cristina Junqueira (co-founder, Brazil CEO), Edward Wible (co-founder, director technological platforms), 
Business type Private
Industry Mobile banking

NuBank revenue

Year Revenue
2016 $45 million
2017 $149 million
2018 $323 million
2019 $523 million
2020 $963 million

Sources: Company data, Crunchbase 

NuBank profit

Year Net profit / loss
2016 ($122 million)
2017 ($177 million)
2018 ($100 million)
2019 ($312 million)
2020 ($230 million)

Source: Company data

NuBank users

Year Users
2016 1.3 million
2017 4 million
2018 8 million
2019 15 million
2020 30 million
2021 48 million

Source: Company data 

NuBank valuation

Year Valuation
2018 $4 billion
2019 $10 billion
2021 $30 billion

Source: Pitchbook

NuBank vs competitors: revenue

Want to learn more? Read our mobile banking sector profile

NuBank FAQ

How many new customers does NuBank add a month?

As of the third quarter of 2021, NuBank was adding 2.1 million customers a month

Where is NuBank available?

NuBank is available in Brazil, Mexico and Colombia

How many NuBank users are in Brazil?

Over 35 million NuBank customers are located in Brazil, which is where NuBank is based

What percentage of NuBank users are under 35?

70% of users are under 35, as of April 2021

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