MARKET VALUATION

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Brazillians pay some of the highest fees and interest rates in the world for what is often considered poor banking services . For this reason , Nubank offers its customers a free account , with no maintenance fees . Nubank is the third bank in Brazil to achieve unicorn status after achieving a valuation of US $ 1bn in 2018 . It was founded in 2013 by David Velez , Edward Wible and Cristina Junqueira , before becoming active in 2014 . The bank is headquartered in São Paulo , Brazil , and serves Brazil , Mexico and Argentina with digital accounts , credit cards and personal loans . In October 2019 , Vélez revealed that the bank now has over 15 million users .

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