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Brazil: Nubank's number of customers 2016-2020

In June 2020, Nubank reached the mark of 25 million customers, up from 5.9 million clients reported at the end of 2018. This digital bank was one of the first Brazilian unicorn companies, as well as the first Latin American decacorn startup.

Startup categories

Startups are defined as new innovative business created by entrepreneurs aiming to make an impact and take over a market. According to their value, successful startups can be divided into three main categories: unicorns, decacorns, and hectacorns. Unicorns are privately-owned startups valued at one billion U.S. dollars or more. Meanwhile, decacorns and hectacorns are also privately-held companies that have reached a market value of over 10 and 100 billion U.S. dollars, respectively. As of 2020, there were more than 600 unicorn startups worldwide, most of them located in China and the United States.

Entrepreneurship in Latin America

With only 11 startups valued at over one billion U.S. dollars as of January 2020, Latin America is the region with the lowest number of unicorns worldwide. However, it is one of the most active regions for entrepreneurial activity. For instance, nearly four out of 10 Chileans in the working age population are actively involved in setting up new businesses, as compared to an average of 9.4 percent in Asian countries.

Number of customers of Nubank in Brazil from 2016 to 2020

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Sources

Release date

June 2020

Region

Brazil, Central and South America

Survey time period

2016 to 2020

Supplementary notes

* As of June 2020.
Data for 2016 and 2018 refers to end of year values.
This statistic was compiled using news releases from Folha, Época Negócios, InfoMoney, and Latin American Business Stories (LABS).

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