Nu Mexico, part of Latin America’s largest fintech company Nubank, has achieved a notable milestone by reaching 12 million customers in Mexico. This shows a growth of one million customers in just one quarter, securing its rank as one of the country’s leading financial institutions.
The digital financial services provider now caters to approximately 9% of Mexico’s population and a quarter of those with banking services. Since its entry into the Mexican market in 2019, Nu has become an accessible alternative to traditional banks, especially for underserved populations.
A recent impact study by Nu highlights that around 22% of its customers accessed the financial system for the first time through Nu, and 36% reported having been previously rejected by other institutions. This accessibility is crucial in a country where nearly 50% of the 130 million people do not have a bank account.
Nu’s customer demographics are diverse, with about 45% being women and half reporting monthly earnings below 10,000 pesos (US $540). The company’s no-fee credit card offering has been particularly successful, attracting customers across Latin America.
In a significant move towards its future operations, Nu received a banking license in April 2025. Currently, it operates as a popular financial society (Sofipo), undergoing regulatory audits before it can officially function as a commercial bank. Once complete, Nu will be the first Sofipo in Mexico to achieve bank status.
Nu’s parent company, Nubank, now has nearly 119 million users across three countries: 104 million in Brazil, 12 million in Mexico, and 3 million in Colombia.
For more details, visit the full article on Mexico News Daily.
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