Ana MarÃa RÃos
Research expert covering finance, insurance and real estate
Get in touch with us nowBrazil: net profit of Nubank 2015-2020
In the first half of 2020, fintech company Nu Pagamentos S.A. (Nubank) in Brazil reported a net loss of approximately 95 million Brazilian reals. During that time, the company generated more than two billion reals worth of operating revenue.
The development of fintech in Latin America
With over 2.1 million U.S. dollars raised in 2019, the fundraising value collected by fintech startups in Latin America has grown by nearly 700 percent since 2016. That same year, this sector has contributed to almost 150 unique startups in the region, mostly concentrated in Mexico and Brazil, largest economies in Latin America.
Brazil as a fintech market leader
Indicated by its lead in insurance technology, Brazil can be seen as a significant player in the regional fintech market. Additionally, as Brazilian consumers have increasingly switched to more online platforms, they have also become a more welcoming consumer population for mobile services, including financial services. In 2019, fintech had an overall 64 percent adoption rate among Brazilians. Moreover, with the onset of the COVID-19 pandemic increasing widespread dependency on online services, Brazil’s influence in this sector is expected to continue to grow.
The development of fintech in Latin America
With over 2.1 million U.S. dollars raised in 2019, the fundraising value collected by fintech startups in Latin America has grown by nearly 700 percent since 2016. That same year, this sector has contributed to almost 150 unique startups in the region, mostly concentrated in Mexico and Brazil, largest economies in Latin America.
Brazil as a fintech market leader
Indicated by its lead in insurance technology, Brazil can be seen as a significant player in the regional fintech market. Additionally, as Brazilian consumers have increasingly switched to more online platforms, they have also become a more welcoming consumer population for mobile services, including financial services. In 2019, fintech had an overall 64 percent adoption rate among Brazilians. Moreover, with the onset of the COVID-19 pandemic increasing widespread dependency on online services, Brazil’s influence in this sector is expected to continue to grow.
