Nu Holdings (NU 3.59%) is known for its innovative digital bank, Nubank. It's one of the largest fintech institutions in the world, with 127 million users and $29 billion of customer deposits. The stock was off to a rough start after entering the market at the start of the 2021-2022 inflation panic but has tripled the S&P 500 (^GSPC 1.52%) index's returns over the last three years.
The company is also in the midst of a sweeping strategy shift. Founder and CEO David Vélez sees Nubank's Latin American success as the first chapter in a global expansion story. Vélez has ambitious plans for the next chapter, including international growth and a broader Money Platform business model.
Here's Nu Holdings' growth plan for the next 10 years.
NYSE: NU
Key Data Points
What is Nubank, anyway?
Nu Holdings runs a newfangled financial technology business, not a traditional bank. Instead of physical branches and human staff, it offers bank-like services online in a data-driven digital ecosystem.
Low fees and online transactions make Nubank a popular choice for people who have never had a credit card or a bank account before. A pleasant customer experience is a must, and Nu Holdings treats the Net Promoter score (positive word-of-mouth marketing) as a primary business metric.
Nubank has been extremely successful in countries like Brazil and Mexico, where a large share of the population is unbanked. In the third quarter of 2025, over 60% of the adult Brazilian population had an active Nubank account. Nu Holdings' customer deposits rose 37% year over year to $38.8 billion, revenue jumped 42% to $4.17 billion, and gross profit was up by 35% to $1.81 billion. In other words, Nu Holdings runs a hyperefficient financial services business that is growing at a breakneck speed.
Image source: Getty Images.
The Money Platform roadmap
The Latin American growth is a good start, but Nu Holdings wants more. Over the next 10 years, the company wants to be the primary financial resource for its customers. This comprehensive Money Platform starts with simple tools like credit cards and checking accounts. Next, people will invest through Nu's stock-trading services. Then, there are personal loans, insurance plans, and the NuShop e-commerce portal.
This system is already budding, and management claims that people who treat Nu as their primary bank generate 4 times as much revenue for Nu Holdings as the less engaged population.
The Netflix playbook, just a bit slower
The company is huge in Brazil, growing extremely fast in Mexico and Colombia, and is eyeing the rest of Latin America for the next phase. At the same time, nonfinancial services like the NuCel mobile phone network and the Nu Travel trip-planning platform are boosting the company's monetization per user. Yep, a neobank can run cellphone networks and travel portals, too.
The company is putting a lot of work into its long-term expansion plan, which will eventually go beyond Latin America and form a global system. Remember how Netflix (NFLX 0.73%) built a scalable media-streaming platform in North America and then launched it worldwide in January 2016? I see Nu Holdings trying a similar approach in the fintech sector, though the global expansion won't be quite as sudden due to heavier regulation of financial services.
The Money Platform is being built in Brazil and Mexico today and should be applicable to other heavily unbanked markets, too. The addressable market is still enormous, and I can't wait to see Nu Holdings stretching its digital banking tools to more nations over the next decade.
