Its acquisition policy accelerated in 2020.
© Nubank
With 30 million clients, the Brazilian establishment Nubank continues to invest and announces that it has acquired the Easynvest trading platform. This operation – the third since the start of the year – allows it to gain a foothold in the capital market with a platform of more than 1.5 million users, or half of Brazilian individuals investing in equities.
Within the country, the exponential increase in the number of households turning to the stock market is being felt. A study by the Sao Paulo stock exchange announced that the number of Brazilians investing in the stock market had increased by 76% between December 2019 and August 2020. The health crisis has strongly contributed to it, like what the American fintech Robinhood is experiencing also.
Moreover, Easynvest enjoys the Olympic form of the American, who has already been able to raise nearly a billion dollars since the start of the year. The market is strategic: households are turning to the stock exchanges to invest their savings, and are taking advantage of the growth of platforms accessible to the commission-free model offered by these platforms.
Nubank’s approach
The CEO of Brazilian neo-bank Nubank is following this strategy with the takeover of Easynvest. “The current investment market in Brazil is filled with complex and expensive products and surrounded by conflicts of interest. The less income and financial education a client has, the worse their investment options, ” he warned, adding that “ this creates a huge opportunity to replicate Nubank’s approach to bring simplicity and efficiency to a complex market. and use technology and customer orientation to democratize access to great financial services products for all ”.
The amount of the repurchase was not disclosed. But it is certain that the 3 million Brazilian investors will increase, and the Easynvest platform will benefit in the majority of cases when the country does not really have any competing online banks and many citizens make Nubank their first establishment. bank in a country still organized with cash payments (70%).
Nubank is in good shape and continues to invest. This trading platform is its third acquisition since the start of the year. It’s hard to imagine that just last year, the neo-bank only had five million customers, the equivalent of N26 in the world last January. Since then, the establishment has expanded to Mexico, and claims more than 42,000 additional customers every day.
MacBook Pro 16 “review Latest video Subscribe
