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Nu Holdings Expands in Mexico and Colombia with $2 Billion Revenue Target

Jul 1, 2025 (7 days ago)
Positive
Nu Holdings Expands in Mexico and Colombia with $2 Billion Revenue Target
Nu Holdings is leveraging its digital-first model to expand in Mexico and Colombia, targeting $2 billion in annual revenue in Mexico by 2027.

Expansion Strategy in Mexico and Colombia

  • NU aims to generate $2 billion in annual revenue in Mexico by 2027, driven by its digital-first model1
  • The company has expanded its customer base in Mexico by 67% year-over-year, reaching 11 million users2
  • Colombia is another key market, with NU targeting underbanked populations to fuel growth1

Financial Performance and Growth

  • NU reported 40% year-over-year revenue growth and a 74% increase in net income3
  • Monthly average revenues per active customer rose 5% quarter-over-quarter and 17% year-over-year on a FX-neutral basis3
  • The company's ARPAC has grown to $11.20 per month, with legacy users generating over $25 monthly4

Regulatory Approvals and Risk Management

  • NU obtained a banking license in April, enhancing its ability to scale deposits and expand product offerings3
  • The company's 15-90 NPL ratio increased by 60 basis points, reflecting strong underwriting and risk management3
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