Nu Holdings, the parent of digital banking platform Nubank, plans to invest $4.2 billion to expand its business in Mexico over the next four years. The plan was announced after Nubank executives met with Mexican President Claudia Sheinbaum. In the first phase, the bank will focus on expanding operational capabilities and rolling out new banking services, deploying $2.5 billion toward capital expenditures. Nubank secured a license in April to expand lending, banking, and deposit products in Mexico. The company serves roughly 135 million customers across Brazil, Mexico, and Colombia.
Nu Holdings LtdPlans $4.2B investment in Mexico over four years, with $2.5B in capex, to expand operations and services.