Challenging the narrative It was a brave move in a culture where organised crime and brutal business practices often result in personal harm . Vélez risked stirring up a wasps ’ nest – but was determined to see his ideas pave the way for a new style of banking to come to fruition .

Nubank was duly launched in 2013 – and has since survived and thrived its way through myriad disasters , including recession , corruption scandals and the pandemic . Warnings from friends that he was putting himself in danger went unheeded . He was told the incumbent banking fraternity would never allow him to succeed – or , possibly , even live … with Vélez divulging to Forbes that one friend told him , “ They ’ re going to kill you , they ’ re going to kidnap your kids ”.

Success for Nubank Now one of the world ’ s most valuable decacorns , Nubank has climbed from success to success . Though less than a decade old , it already boasts over 35 million customers . Much of the success can also be attributed to fellow founders , Cristina Junqueira and Edward Wible , who shared Vélez ’ s passion for change . Less than a decade after its founding , Nubank has 45 million customers and is valued at $ 45bn . It is also backed by some of the world ’ s biggest investors , including Founders Fund , Tiger Global and Sequoia .

A family man As well as being a keen philanthropist , Vélez has four children with his wife , Maria , the last of whom was born earlier this year .

A recent Bloomberg report also confirmed that the couple have pledged to give the vast majority of their personal US $ 6bn fortune to philanthropic causes .