Nu Bank Expands Financial Inclusion with First-Time Credit Card Users
- Nubank has reached 15 million customers in Mexico, according to reporting from Expansión.
- The company's expansion strategy in Mexico emphasizes financial inclusion.
- Nubank's approach to the Latin American market focuses on redefining access to credit through proprietary technology and a massive data set.
Nubank has reached 15 million customers in Mexico, according to reporting from Expansión. This growth follows a period of rapid expansion in the Mexican market, where the company previously reached 10 million customers by January 24, 2025, effectively doubling its customer base within a year.
The company’s expansion strategy in Mexico emphasizes financial inclusion. According to data cited by Rojas, 50% of Nu customers in the region had never owned a credit card before joining the platform, and another 36% had limited previous experience with such products.
Regional Credit Expansion and Inclusion
Nubank’s approach to the Latin American market focuses on redefining access to credit through proprietary technology and a massive data set. As of November 3, 2025, the company reported a total customer base of nearly 123 million people.
In the broader region, approximately 29 million customers gained access to their first-ever credit card through Nubank. This strategy is supported by a proprietary lending model that was further refined following the acquisition of Hyperplane in 2024.
The company’s footprint in Mexico is extensive; by the end of 2023, Nubank was present with various products and services in 98% of the country’s municipalities.
Financial Health and Sustainable Growth
Beyond credit access, Nubank has integrated financial education and savings tools into its product ecosystem to promote long-term financial stability. In Brazil, the company’s seventh edition of Nubank Data, released on June 27, 2024, highlighted the journey toward sustainable financial lives.
The study revealed that between 2019 and December 2023, Nubank enabled 20.7 million Brazilians to access their first credit card. Of those individuals, 43% also managed to save money over time.
The company utilizes Caixinhas
(Money Boxes) as a primary tool for users to enter the world of investments. Among the Brazilians who received their first credit card via Nu between 2019 and 2023, the number of users utilizing Caixinhas increased from 1.5 million in December 2022 to 4.8 million in December 2023.
Our actions have always been greatly guided by the pains and needs of our customers, as well as an approach centered on financial education from the conception of the products. We want people to have a more conscious relationship with money, with more peace of mind.
Livia Chanes, CEO of Nubank in Brazil
Diversification of the Credit Portfolio
While Nubank was founded in 2014 as a credit-focused institution offering a no-fee, digitally managed card, it has since expanded its portfolio to include various income segments and both secured and unsecured loans.
The company’s global expansion includes the launch of personal loan products in Colombia. This diversification is managed by global leads including Jessica Paul, Global GM of Lending, and Emilia Lopez, Global GM of Credit Cards, and Collections.
The company continues to leverage its data platform of over 122 million customers to maintain a virtuous cycle of growth and resilience across the Latin American landscape.