Net profit of Nubank in Brazil 2015-2020
In 2020, fintech company Nu Pagamentos S.A. (Nubank) in Brazil reported a net loss of approximately 230 million Brazilian reals. During that time, the company generated nearly 4.6 billion reals worth of operating revenue.
The development of fintech in Latin America
With over 1.6 million U.S. dollars raised in 2020, the fundraising value collected by fintech startups in Latin America has grown by over 510 percent since 2016. This sector has contributed with more than 2,300 startups in the region, mostly concentrated in Brazil and Mexico, largest economies in Latin America.
Brazil as a fintech market leader
Indicated also 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 1.6 million U.S. dollars raised in 2020, the fundraising value collected by fintech startups in Latin America has grown by over 510 percent since 2016. This sector has contributed with more than 2,300 startups in the region, mostly concentrated in Brazil and Mexico, largest economies in Latin America.
Brazil as a fintech market leader
Indicated also 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.
