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Cristina Junqueira
Co-Founder Nubank
Financial innovator and fintech founder Cristina Junqueira has smashed the glass ceiling in the fiercely male-orientated environment of the Brazilian financial industry , with her contributions having helped launch a new wave of digital banking and finance in the region .
Prior to the launch of Nubank – a collaborative effort between Junqueira and her two co-founders , David Vélez and Edward Wible – bank customers in Brazil had little choice but to fall in with the demands of the incumbent banks , all of which charged high fees for every service . Such exorbitant expenses drained precious resources from hardworking families , thus maintaining , rather than aiding , the financial inclusion gap .
A mother of two and qualified engineer , Junqueira helped launch Nubank in 2013 . Her passion to drive change in the Brazilian banking world has , in turn , been realised , serving an estimated 75 million customers .
Success has seen Junqueira become only the second self-made female billionaire from Brazil – her 2.9 % stake in Nubank gives her a personal fortune of around US $ 1.3 billion .
According to its IPO prospectus , Nubank ’ s total market potential was valued at US $ 99bn in 2020 , and it has been predicted to grow to US $ 126bn by 2025 .
Still under 40 years of age , Junqueira is not averse to referencing Star Wars , even though she was born 7 years after its 1977 release .
“ If banks are Darth Vader , credit cards are the Death Star . They ’ re the horrible weapon the banks used ,” she said .
“ IF BANKS ARE DARTH VADER , CREDIT CARDS
ARE THE DEATH STAR . THEY ’ RE THE HORRIBLE WEAPON
THE BANKS USED ”
48 fintechmagazine . com | June 2023