Nubank launches savings account in Colombia

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Nu Colombia announced they will launch Cuenta Nu, a savings account with no fees that yields 13% annually.

Nu Colombia received full regulatory approval in January to operate as a financing company, meaning they can now offer credit and savings products, such as Cuenta Nu.

“Cuenta Nu is an important step that will allow us to continue expanding our customer base in Colombia, where we have outlined an ambitious growth plan for the next two years to become our customers’ primary banking relationship. Today, 1 in 2 adults in Brazil are already Nu customers, and we hope to replicate this milestone in Colombia,” said Cristina Junqueira, Nubank’s Co-Founder and Chief Growth Officer.

Nu Colombia operates 100% digitally and offers credit cards, debit cards, and “money boxes,” a feature that helps Colombians organize their savings.

Nubank expanded to Colombia in 2020, and today has a 5% market share in the country, where it serves 800,000 customers. 

Read more on Nubank’s Newsroom

Matheus is a lawyer and a strategy consultant in Brazil. He has always been passionate about crating impact, be it through law, projects, deals, or innovation: he’s practiced Law as an attorney at Baker McKenzie, worked as an experienced hire consultant at McKinsey & Company and helped on the development of an early-stage startup.

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