after what NotOne of the world’s largest digital banking platforms reported revenue of $635.9 million in the fourth quarter of 2021 and added 5.8 million customers, the company received an appreciation from Time magazine.
Neobank was named one of the world’s most influential companies for the second year in a row, after “tackling the complexity of the financial system and helping people improve their relationship with money.”
Launched in 2021, Time’s 100 Most Influential Companies list brings together 100 companies that have made an extraordinary impact around the world. Nubank was the only Brazilian and Latin American company on the list and stood out in the Titans category with big companies from around the world such as Amazon, Apple, Disney, Netflix, Meta, Microsoft and others.
The magazine’s ranking includes companies from different industries nominated by the magazine’s worldwide editors and correspondents. Experts from different sectors are also participating in the candidates. Editors then narrow down a final list by considering factors such as relevance, innovation, impact, leadership and success.
“Latin America’s traditional banking system is notoriously expensive, bureaucratic and inaccessible, leaving an estimated 45% of adults in the region out of bank accounts. Under the leadership of CEO David Velez, Nubank, a fintech leader and banking breakthrough, is leading the responsibility to change that by making it easier than ever for people to access the banking system from their mobile devices.”
In Brazil, Nu’s 52.4 million customers (an increase of 58% year-over-year) currently represent around 30% of the country’s adult population. In addition, over 55% of monthly active customers who have been with Nu for more than a year have made Nu their primary bank account. In Mexico, the Company’s 1.4 million customers suggest that by the number of cards issued in the fourth quarter of 2021, the company may already have become the largest new credit card issuer in the country.
Source: Lare Publica
