This Is Why Nu Holdings Is Better Than Most Fintech Stocks
There was a lot to like in Nu Holdings' (NYSE: NU) recently released first-quarter earnings report. The Brazilian fintech company generated record revenue of more than $1.6 billion and record net income of close to $142 million, representing Nu's third-straight profitable quarter. The company also added another 4.5 million customers, bringing total customers to more than 79 million and effectively banking 46% of the Brazilian adult population, which is incredible.
But despite all of this success, there is one thing that makes Nu better than most other fintech companies. Let's take a look.
Nu got its start offering credit cards with no annual fees and using a very sleek digital platform to make it easier for Latin American citizens to access the banking system. The company has pretty much followed this path as it unveiled other products as well, which led to the bank having a lower monthly average revenue per active customer (ARPAC) than incumbent banks in Brazil.
Source Fool.com
