Priya PatelIn a significant development for the Colombian fintech market, Nubank subsidiary Nu Colombia has secured regulatory approval to operate as a financing company in Colombia. The approval was granted by the Financial Superintendence of Colombia and will allow Nubank to expand its product portfolio in the country. The company plans to launch a new savings offering called Cuenta Nu. Nubank has invested approximately $450 million in Nu Colombia since its launch, and the approval is seen as a “key milestone” in the company’s expansion plans.
Nubank triumphs, now powers finance in Colombia – FinTech Futures
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