Nu Holdings Thesis

Nu Holdings is one of the world's largest digital banking platforms, primarily operating in Latin America. Its moat is its low-cost, mobile-first model, which allows it to serve millions of customers who were previously unbanked or underserved by traditional banks. The growth driver is the expansion of its product offerings (credit cards, loans, insurance, investments) to its massive and growing customer base in Brazil, Mexico, and Colombia. The investment thesis is that Nu can become the dominant financial institution in Latin America by leveraging its technology and low-cost structure.