Wise Platform, Wise’s infrastructure arm catering to banks,
financial institutions, and enterprises globally, has announced a strategic
partnership with Nubank, one of Brazil’s financial institutions. This
collaboration aims to bolster Nubank’s offerings by introducing a global
account and international debit card.
The partnership aims to solidify Wise Platform’s position as
a preferred choice for major banks and businesses globally. Notable entities
such as Bank Mandiri, Shinhan Bank, IndusInd, BPCE, Monzo, and Google Pay have
already joined forces with Wise Platform, bringing the total count of partners
to over 85 across the globe.
Nubank, boasting a substantial customer base of over 90
million across South America, with a staggering 85 million in Brazil alone,
stands as a known player in the region’s financial landscape. Earlier, Nubank
reported strong growth in 2023, adding 19.3 million customers, totaling
nearly 94 million across Brazil, Mexico, and Colombia. Revenue increased by 57%
to $2.4 billion in Q4 2023, resulting in $1 billion in net profit for the year,
a substantial turnaround from previous losses.
USD and EUR Transactions across 200 Countries
The partnership’s initial rollout will facilitate the launch
of Nubank’s new global account and international debit cards, catering
specifically to its ‘Ultravioleta’ premium tier customers. These cards will
empower customers to hold USD and EUR currencies while enabling seamless
transactions in local currencies across 200 countries and territories globally.
Nubank $NU partners with Wise $WISE on the launch of Global Accounts, which allow users to make balance conversions from Real to dollar and euro through the Nubank app 👇🏻 https://t.co/629B2J8tZQ
— Jevgenijs Kazanins (@jevgenijs) April 8, 2024
Moreover, this collaboration marks a stride in Wise’s
expansion efforts within Brazil and the broader region. Within just 15 months
since its launch in Brazil, Wise has successfully issued over one million Wise
cards..
Meanwhile, Emmanuel Thomassin has been appointed as Wise’s
new Chief Financial Officer and Director, succeeding Matthew Briers, as
reported by Finance Magnates. Thomassin, previously CFO at Delivery Hero,
brings extensive experience in scaling fast-growth companies globally. He will join
Wise on October 1, 2024, with Kingsley Kemish serving as interim CFO until
then.
Wise Platform, Wise’s infrastructure arm catering to banks,
financial institutions, and enterprises globally, has announced a strategic
partnership with Nubank, one of Brazil’s financial institutions. This
collaboration aims to bolster Nubank’s offerings by introducing a global
account and international debit card.
The partnership aims to solidify Wise Platform’s position as
a preferred choice for major banks and businesses globally. Notable entities
such as Bank Mandiri, Shinhan Bank, IndusInd, BPCE, Monzo, and Google Pay have
already joined forces with Wise Platform, bringing the total count of partners
to over 85 across the globe.
Nubank, boasting a substantial customer base of over 90
million across South America, with a staggering 85 million in Brazil alone,
stands as a known player in the region’s financial landscape. Earlier, Nubank
reported strong growth in 2023, adding 19.3 million customers, totaling
nearly 94 million across Brazil, Mexico, and Colombia. Revenue increased by 57%
to $2.4 billion in Q4 2023, resulting in $1 billion in net profit for the year,
a substantial turnaround from previous losses.
USD and EUR Transactions across 200 Countries
The partnership’s initial rollout will facilitate the launch
of Nubank’s new global account and international debit cards, catering
specifically to its ‘Ultravioleta’ premium tier customers. These cards will
empower customers to hold USD and EUR currencies while enabling seamless
transactions in local currencies across 200 countries and territories globally.
Nubank $NU partners with Wise $WISE on the launch of Global Accounts, which allow users to make balance conversions from Real to dollar and euro through the Nubank app 👇🏻 https://t.co/629B2J8tZQ
— Jevgenijs Kazanins (@jevgenijs) April 8, 2024
Moreover, this collaboration marks a stride in Wise’s
expansion efforts within Brazil and the broader region. Within just 15 months
since its launch in Brazil, Wise has successfully issued over one million Wise
cards..
Meanwhile, Emmanuel Thomassin has been appointed as Wise’s
new Chief Financial Officer and Director, succeeding Matthew Briers, as
reported by Finance Magnates. Thomassin, previously CFO at Delivery Hero,
brings extensive experience in scaling fast-growth companies globally. He will join
Wise on October 1, 2024, with Kingsley Kemish serving as interim CFO until
then.