Nubank to Invest US$4.2 Billion in Mexico Through 2030

Nubank has formalized a US$4.2 billion investment plan for Mexico through 2030 following a meeting with President Claudia Sheinbaum. The commitment, which includes US$2.5 billion in strategic investments over the next four years, will support Nu Mexico’s commercial expansion and the scaling of its banking infrastructure. The investment highlights the accelerating growth of digital banking in Mexico, intensifying competition across the fintech and retail banking sectors while expanding access to financial services.

——

Mexican President Claudia Sheinbaum met with David Velez Osorno, CEO and founder of Brazilian digital bank Nubank, at the National Palace to formalize a US$4.2 billion investment commitment for the 2026-30 period. The expansion plan allocates US$2.5 billion specifically for capital expenditures over the next four fiscal years. According to Nubank, this long-term investment reinforces its position in the Mexican market, where its local subsidiary, Nu México, already ranks among the country's five largest financial institutions and is the third-largest credit card issuer.

The investment announcement follows the company's rapid growth trajectory, adding approximately 1 million new clients every quarter. President Sheinbaum confirmed the meeting in a post on her official social media account, describing the investment as a significant boost to Mexico's financial sector.

Several Nu executives also participated in the high-level meeting at the National Palace. The delegation included Armando Herrera Reyna, General Manager, Nu México; Romina Benvenuti, Senior Director of Corporate Affairs; and Alejandro Cruz Sánchez, Director of Public Policy.

The executive team outlined how the investment will be deployed, emphasizing that the capital will strengthen Nu's long-term commitment to Mexico while supporting the expansion of digital financial services through 2030. The initial phase of the investment will focus on expanding the company's operational capabilities and supporting the rollout of new banking services.

Nubank’s Regional Expansion Strategy

Nubank, which operates under the Nu brand in Mexico, provides digital financial services across Brazil, Mexico and Colombia through a fully digital platform without a traditional branch network. The company serves more than 135 million customers across Latin America, reflecting continued rapid customer growth throughout the region.

During the first quarter of 2026, the digital platform added approximately 4 million new users across its regional operations. Brazil remains its largest market with more than 115 million customers, while Colombia has nearly 5 million users. In Mexico, Nu serves between 14 million and 15 million customers, making it one of the country's fastest-growing financial institutions.

Nu México reached a major milestone in April 2026 when it received authorization from the National Banking and Securities Commission (CNBV) to transition from a Popular Financial Society (SOFIPO) into a fully licensed commercial bank. Company executives view the approval as a key step toward accelerating growth and strengthening customer confidence in the platform.

The company's long-term strategy focuses on expanding financial inclusion by serving Mexico's underbanked population. Herrera estimated that approximately 60% of Mexicans still lack access to formal digital financial services, highlighting what the company sees as one of its largest growth opportunities. Nu aims to become the country's largest digital bank by customer base while positioning itself as its users' primary financial institution.

Herrera said the new capital will accelerate investment in technology, talent, operational capacity and employee development. He added that achieving the company's customer-centric growth strategy will require continued investment in technology, infrastructure and operational capabilities. The banking license will also allow Nu to broaden its product portfolio by expanding its lending business and introducing additional deposit products and other banking services.