Nu Holdings Ltd (NU) Expands Offices and Global Brand Reach

Nu Holdings Ltd (NYSE:NU) is one of the champion emerging markets stocks to bargain close now. On January 26, Nubank announced it volition put astir R$ 2.5 cardinal (~USD 475 million) implicit the adjacent 5 years to grow and amended its offices successful Brazil.

The institution plans to heighten its workspace capableness successful São Paulo, arsenic it besides plans caller offices successful Campinas, Rio de Janeiro, Belo Horizonte. Expansions successful Mexico City and Bogotá, positive aboriginal sites successful Washington, D.C. and Buenos Aires are besides successful the pipeline. The concern connected workspace aligns with the accelerated maturation successful lawsuit numbers from 59 cardinal to 127 cardinal implicit the past 5 years, alongside grounds revenues and profits. The institution sees modern bureau spaces arsenic cardinal to fostering collaboration, innovation, and semipermanent expansion.

On January 21, Nu Holdings announced a multi-year concern with the Mercedes-AMG PETRONAS F1 Team. The institution plans to leverage Formula 1’s planetary scope of implicit 827 cardinal fans to boost its marque successful Latin America, the U.S., and different markets. It already serves 127 cardinal customers successful Brazil, Mexico, and Colombia and has grown gross by implicit 20% to $6.36 cardinal successful the past year.

Nu Holdings Ltd. (NYSE:NU) is the publically traded genitor institution of Nubank, the digital-first slope founded successful Brazil. It is 1 of the world’s biggest integer banking platforms with implicit 127 cardinal customers successful Brazil, Mexico, and Colombia. Founded successful 2013, it offers casual app-based services similar recognition cards, accounts, loans, and investments, focusing connected keeping costs debased portion keeping customers highly engaged.

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Disclosure: None. This nonfiction is primitively published at Insider Monkey.