A profile of Nubank founder David Vélez, who graduated from Stanford, worked at Sequoia, and moved to Brazil to start the bank in 2013, as Nubank enters the US

Nubank's entry into the US market means American consumers may soon have access to a disruptive, low-fee digital banking alternative.

Nubank, the largest digital bank in Latin America, is expanding into the United States, marking its first market outside its established region. Founded in 2013 by David Vélez, who previously worked at Sequoia Capital and graduated from Stanford, Nubank has grown to serve over 140 million customers across Brazil, Mexico, and Colombia. The company reported over $1 billion in quarterly net income in Q2 2026 and is valued at over $60 billion, trading on the New York Stock Exchange since December 2021. Vélez's entrepreneurial journey began in Colombia, moving to Costa Rica and then pursuing higher education and finance careers before identifying an opportunity to disrupt traditional banking in Brazil with a no-fee, mobile-first approach. This US expansion represents Nubank's ambition to compete on a global stage, moving beyond its success against established players in Latin America.

Nubank's move into the United States signals a significant shift in the global fintech landscape, challenging established US banks with its proven model of customer-centricity and technological innovation. The company's success in Latin America, overcoming regulatory hurdles and entrenched incumbents, provides a strong precedent for its ambitious US launch. This expansion could force traditional US financial institutions to accelerate their own digital transformation efforts and reconsider their fee structures to remain competitive.

The success of Nubank's US venture will depend on its ability to replicate its unique value proposition—combining a seamless digital experience with transparent, low-cost financial products—in a market that, while ripe for disruption, is also highly competitive and regulated. Vélez's background, including his time at Sequoia Capital and his experience navigating complex markets, positions him to tackle this challenge. Investors and consumers alike will be watching to see if Nubank can capture market share and redefine banking expectations in America.