São Paulo, April 27th. Nubank, the largest independent digital bank in the world, was recognized today by TIME on their first-ever TIME100 Most Influential Companies, a new list—and an expansion of the annual TIME100 list of the world’s most influential people—that highlights the work of companies across different sectors and around the world that have, according to TIME, “an extraordinary impact”. Nubank has been featured in the “Leaders” category alongside some of the most relevant companies of the era.
To assemble the list, TIME solicited nominations from every sector—ranging from health care and entertainment to transportation and technology—from editors and correspondents around the world, as well as from industry experts. Then, TIME editors evaluated each one on key factors, including relevance, impact, innovation, leadership and success. The publication highlighted that Nubank has been able to “help millions jump barriers by offering a variety of financial services via its smartphone app.”
Founded in São Paulo by Colombian entrepreneur David Vélez, along with partners Cristina Junqueira and Edward Wible, in only eight years Nubank became the the largest digital bank in the world by number of customers (35 million) and is among the five most valuable financial services companies in Latin America, with operations in Brazil, Mexico and Colombia. Nubank’s mission is to fight complexity and empower people to take back the control of their money, through financial services that are transparent, human and simple.
This is not the only recognition Nubank has received from international publications in recent years: it was elected by Forbes magazine as the best bank in Brazil — and one of the best in the world — for three years in a row, from 2019 to 2021. Fast Company magazine named Nubank the most innovative company in Latin America and has been highlighted by CBInsights as the most valuable challenger bank, among others.
Full list to TIME100 Most Influential Companies: time.com/100companies
Nubank was founded in 2013 to free people from a bureaucratic, slow and inefficient financial system. Since then, through innovative technology and outstanding customer service, the company has been redefining people’s relationship with money across Latin America. With operations in Brazil, Mexico and Colombia, Nubank is today the world’s largest independent digital bank, reinventing over 35 million customers’ financial lives.
Nubank achieved this by offering a no-fee credit card, entirely managed by a mobile app and currently used by about 21 million people, and a digital account, free of taxes, held by about 32.5 million Brazilians. Nubank also offers transparent and hassle-free personal loans, a benefits program with points that don’t expire, a business account tailored for SMBs, and life insurance. In 2020, Nubank acquired digital broker Easynvest and became the leader in self-directed digital investments in Brazil.
Throughout the years, Nubank raised over US$1.2 billion with some of the best-known growth and technology investors in the world, such as Sequoia, DST, Tencent, Tiger, Kaszek, Founders Fund, Dragoneer, TCV, Redpoint, Ribbit, GIC, Whale Rock, Invesco and QED.
Nubank was elected by Forbes magazine as the best bank in Brazil — and one of the best in the world — for three years in a row, 2019, 2020, and 2021. Fast Company magazine named Nubank the most innovative company in Latin America and as the most valuable challenger bank by CBInsights.
Today, Nubank is a global company, with offices in São Paulo (Brazil), Mexico City (Mexico), Buenos Aires (Argentina), Bogotá (Colombia), Durham (United States) and Berlin (Germany). It was founded in 2013 in Sao Paulo, by Colombian David Vélez, and cofounded by Brazilian Cristina Junqueira and American Edward Wible. For more information, visit www.nubank.com.br.