Welcome back to Equity, the podcast delving into the world of startup business. In this episode, we had the pleasure of speaking with David Vélez, co-founder and CEO of Nubank, the digital bank that has taken São Paulo, Brazil by storm. With a valuation of $50 billion, Nubank offers a range of services such as credit cards, checking accounts, and life insurance to consumers.
During our interview, Vélez shared some valuable insights on Nubank’s recent surge in profits and the impact of tourism on venture capital in Latin America. Tune in here or wherever you listen to your podcasts.
“This is an exciting time for Nubank,” Vélez told us. “We have seen an incredible increase in profitability, which we believe is a testament to our innovative approach and dedication to our customers.”
“We are proud to have surpassed our previous financial goals and look forward to continued growth and success in the future.”
When discussing the current state of venture capital in Latin America, Vélez highlighted the recent trend of “tourist VCs” in the region. He explained that while there was an influx of foreign investors pre-pandemic, many have since returned home and are now focusing on local opportunities in their own countries.
- “We have definitely seen a shift in the VC landscape in Latin America,” said Vélez.
- “At Nubank, we have always prioritized working with local investors who understand our market and our vision, and we will continue to do so.”
- “We believe that this will help us maintain strong partnerships and drive our growth even further.”
Wrapping up the interview, Vélez shared some exciting plans for Nubank’s future, including potential expansion into new markets and continued innovation in the digital banking space.
Stay tuned for our next episode as we continue to bring you more insightful conversations with top leaders in the world of startups. If you haven’t already, make sure to subscribe to Equity wherever you get your podcasts. Thanks for listening!
