Brazilian fintech firm Nubank will open an office in Mexico on Tuesday, an initi...
FILE PHOTO: The logo of Nubank, a Brazilian FinTech startup, is pictured at the bank's headquarters in Sao Paulo, Brazil June 19, 2018. Picture taken June 19, 2018. REUTERS/Paulo Whitaker
Nubank, a six-year-old startup that has raised $400 million from investors such as China’s Tencent Holdings Ltd, Sequoia Capital, Tiger Global Management and Kaszek Ventures, will start Mexican operations with 20 employees, Nubank executive and co-founder Cristina Junqueira said in an interview. Investors see Mexico as an attractive market for fintech because many people do not have bank accounts but there is good mobile internet coverage. Similar conditions contributed to fintech growth in Brazil in recent years.
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