Nubank, doing business outside of Brazil as Nu, is a Brazilian neobank headquartered in São Paulo, Brazil. Although it is not formally part of Brazil’s National Financial System, Nubank operates as a financial and payment institution regulated and supervised by the Central Bank of Brazil. It is the largest fintech bank in Latin America, with around 131 million customers between Brazil, Mexico and Colombia and a revenue of $16 billion. At its initial public offering in December 2021, Nubank was valued at $45 billion.