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In Good Company with Nicolai Tangen

David Vélez: Building Nubank, Transforming Banking Across Latin America, and Serving Millions of Users

In Good Company with Nicolai Tangen

Norges Bank Investment Management

In Good Company, Business, Norges Bank, Nicolai Tangen

4.8 • 186 Ratings

🗓️ 8 October 2025

⏱️ 51 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

How does one company redefine banking for millions? Nicolai Tangen speaks with David Vélez, founder and CEO of Nubank, one of the world's largest digital banks serving 120 million customers across Brazil, Mexico, and Colombia. They explore David's remarkable entrepreneurial journey and his mission to revolutionize Latin American banking, the strategy behind Nubank's iconic purple branding, and how the company built such incredible customer loyalty that millions joined waiting lists for their products. David shares his philosophy on customer obsession, the challenges of scaling from startup to major financial institution, and his view on the massive global opportunity as financial services continues to digitalize worldwide. With Nubank valued as one of the most valuable banks in the region, this anti-bank is reshaping financial services. Tune in for an inspiring conversation!

In Good Company is hosted by Nicolai Tangen, CEO of Norges Bank Investment Management. New full episodes every Wednesday, and don't miss our Highlight episodes every Friday. 

 

The production team for this episode includes Isabelle Karlsson and PLAN-B's Niklas Figenschau Johansen, Sebastian Langvik-Hansen and Pål Huuse. Background research was conducted by Isabelle Karlsson.

 


Hosted on Acast. See acast.com/privacy for more information.

Transcript

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0:00.0

Hi everyone. I'm Nicola Tangen, the CEO of the Norwegian Soan Wealth Fund, and today I'm joined by a true

0:06.0

fintech pioneer who has transformed banking in Latin America. David Veles is the co-founder and CEO of

0:12.8

New Bank, one of the world's largest digital banks, serving something like nearly 120 million

0:19.3

customers in Brazil, Mexico and Colombia.

0:22.7

And under David's leadership, Newbank has grown from a startup to one of the most

0:28.7

valuable banks in the region.

0:30.3

So, David, have warm welcome.

0:32.4

Thank you, Nikolai.

0:33.3

It's a pleasure to be here with you.

0:43.7

Thank you. Now, take us back to the beginning.

0:48.0

How did your upbringing shape what you're doing now?

0:52.6

Sure.

0:53.3

So I don't come from a family of bankers at all, but I do come from a family of entrepreneurs.

0:58.7

I'm originally from Colombia.

1:00.7

I grew up in a family where my dad had 11 siblings.

1:05.1

My dad had my mom had five.

1:07.4

And they were all micro-entrepreneurs.

1:08.9

They all had their own business.

1:10.2

My dad as well so what did

1:11.7

you guys talk about around the dinner table yeah so uh the understanding was that you had to go

1:17.8

and build your own thing and uh if you were about to get a job or we were going to try to manage

1:25.0

something that was look up front. What was cool in the

...

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