Despite the challenging fundraising environment of 2022, we saw more big corporations launching their corporate venture arms in Brazil last year than during the boom years of 2020 and 2021.
In a country where many people are still unbanked, and queuing to pay bills is part of daily life, the impact of being able to pay anyone instantly can't be understated.
What’s going on with an IPO that was expected to be a key moment for Brazilian tech companies in particular, and fintech upstarts more broadly?
This the story of one regulator, the Brazilian Central Bank, and how it has taken center stage in creating a framework that will have far-reaching effects on merchants and fintechs in Brazil.
"There are many high-quality tech companies being built in Brazil with very experienced management teams and very exciting stories that will capture the hearts and wallets of Brazilian … investors."
Brazil is a country riven with economic contradictions. It has one of the largest and most profitable banking industries in Latin America, and is among the world’s most developed financial markets.
For most startups, the hardest early challenge is identifying a market and a product to serve it. That wasn’t the case for Nubank CEO David Velez, who knew the potential for success in Brazil.
David Velez needed to fill two key co-founding roles to begin building Nubank — he needed a CTO to lead the engineering side of the business, as Velez didn’t have an engineering background.
It’s easy to assume the name Nubank refers to “new bank,” but that’s not what the founders were going for. The word “nu” in Portuguese means “naked,” and Velez wanted the name to refle
Nubank’s first office, on California Street in the Brooklin neighborhood of São Paulo, makes for a great beginning to the company’s story.