Nubank aims to become Latin America's largest financial services company 🏦⚛️; Paytm’s turmoil after RBI crackdown 😵

FinTech is Eating the World, 6 February

Hey Everyone,

Good morning! With a slight delay, today we’re going to look at Nubank that aims to become Latin America's largest financial services company (big picture view of NU’s ambitions & why it should excite you + some bonus deep dives & analysis), and Paytm’s turmoil after RBI crackdown (a recap of what’s happening + a closer look at Paytm & payments in India). Let’s jump straight into the fascinating stuff 🌶

Nubank aims to become Latin America's largest financial services company 🏦⚛️

The news 🗞️ Brazilian FinTech giant Nubank NU 0.00%↑ has laid out ambitious plans to become Latin America's largest financial services company. Valued at over $44 billion, Nubank is predicted to hit a whopping $1 billion in annual profits this year 😳

For the perspective, Revolut, which is one of the biggest FinTechs globally last valued at $33B, made a a pre-tax loss of £25.4 million in 2022 (their latest annual report).

ICYMI: Christmas present from Revolut: delayed 2022 accounts are finally here 🎁 [latest numbers & what they mean + what’s next & some bonus reads]

Let’s take a quick look and see what’s next for NU and why you should be excited.