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In Good Company with Nicolai Tangen

HIGHLIGHTS: David Vélez - CEO of Nubank

In Good Company with Nicolai Tangen

Norges Bank Investment Management

In Good Company, Business, Norges Bank, Nicolai Tangen

4.8 • 186 Ratings

🗓️ 10 October 2025

⏱️ 11 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

We've curated a special 10-minute version of the podcast for those in a hurry.  

 

Here you can listen to the full episode: https://podcasts.apple.com/no/podcast/david-v%C3%A9lez-building-nubank-transforming-banking-across/id1614211565?i=1000730718547&l=nb

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 Nubankvalued 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

Click on a timestamp to play from that location

0:00.0

Hi, everybody. Tune in to this short version of the podcast, which we do every Friday for the long version.

0:06.7

Tune in on Wednesdays.

0:09.1

Hi, everyone. I'm Nicolaad Tangen, the CEO of the Norwegian Soan Wealth Fund. And today I'm joined by a true fintech pioneer who has transformed banking in Latin America.

0:18.8

David Veles is the co-founder and CEO of NewBank, one of the world's

0:22.5

largest digital banks, serving something like nearly 120 million customers in Brazil, Mexico,

0:29.6

and Colombia. And under David's leadership, NewBank has grown from a startup to one of the

0:36.7

most valuable banks in the region. So, David, a warm

0:39.5

welcome. Thank you, Nikolai. It's a pleasure to be here with you. Now, take us back to the

0:46.6

beginning. How did your upbringing shape what you are doing now? Sure. So I don't come from a family of bankers at all, but I do come from a family of entrepreneurs.

0:57.8

I'm originally from Colombia.

0:59.8

Grew up in a family where my dad had 11 siblings.

1:04.2

My dad had my mom had five.

1:06.4

And they were all micro-entrepreneurs still had their own business, my dad as well.

1:10.4

So what did you guys talk about around the dinner table?

1:13.1

Yeah.

1:13.4

So the understanding was that you had to go and build your own thing.

1:18.7

And if you were about to get a job or you were going to try to manage something that was Luke up front,

1:26.2

what was cool in the family, the DNA

1:28.2

in the family was starting your own thing and solving a bunch of problems. So you, you decide,

1:35.1

okay, now I'm just going to go for it. I'm going to start a bank. What do you do? Who do you call?

1:41.0

What do you think? What do you just, what kind of stuff do you have to do?

1:45.2

Yeah. So I had spent a lot of time in looking at financial services as an investor.

...

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