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N u b a n k Launched in 2013 as a direct reaction to the underserving , over-charging incumbent banks of Brazil , Nubank was founded by David Vélez , Cristina Junqueira and Edward Wible , having since grown to become the most successful digital bank to date .
The trio of founders decided to brand their new digital banking entity as Nubank for two reasons : first , because it reflected their desire to create something entirely new ; and , second , ‘ nu ’ in Portuguese translates as ‘ nude ’ – another concept they wanted to impart to reflect the pared-back nature of Nubank ’ s products and services .
With a predicted valuation of US $ 126bn by 2025 on its current growth trajectory , the challenger bank currently serves an estimated 45 million customers . Nubank ’ s NPS rating of + 87 ( Itaú ’ s is + 14 and considered acceptable ) is just one aspect that reflects its popularity among customers .
136 November 2022