Nine months after its IPO with a dual listing on the São Paulo Stock Exchange and the NYSE, Nubank announced that it will no longer be a publicly traded company in Brazil.
Nubank announced it had expanded its customer base sixfold over the past year, reaching a total of 2.7 million customers from 0.4 million.
Despite the sharp drop in value seen in the past weeks, financial technology players that have drawn millions to their wallets are now doubling down their bets on crypto.
As of April, the Brazilian economy reached the ninth spot as the country with the highest number of unicorn firms.
LendIt Fintech held the 5th annual industry awards to celebrate the top fintech influencers and innovators.
Across Latin America, fintech lenders are accelerating profitability strategies amid growing pressure from markets to yield profits.
The Brazilian digital lender added $200 million in its ninth funding round and announced it was buying both a bank and a mortgage lender.
On the second day of the Fintech Nexus USA conference, Nubank's David Vélez recounted in direct terms the multi-year overnight success.
The Central Bank of Brazil announced a new string of regulations that would demand higher capital reserves for large-scale fintechs.
Shares of Nubank have weakened since its initial public offering, losing some $20 billion in market value since it went public.