“We are going through the investment curve that any company has, where first there is a cash flow, where there are large investments (…), they are own capital, they are the shareholders,” Felipe Castellanos, Nubank’s financial director, told reporters. In colombia.
The resources will be used to expand and deepen the penetration of its credit card and expand the product portfolio of the digital financial services platform.
“We already have two thirds invested, in these next two years a third will come to complete the two trillion pesos at the end of 2025 with our own resources,” explained Castellanos. “They are around between 600,000 million and 700,000 million additional pesos to what we have at the end of March.”
The resources will be additional to a loan that the company obtained with the IFC in January of this year for up to 150 million dollars.
In Colombia Nubank has 635,000 credit card customers, with a 3.6% market share in that business.
The entity has around 80 million clients in Brazil, Mexico and Colombia.
With information from Reuters