Number of customers of Nubank 2016-2023

Brazil's leading neobank, Nubank, increased its customer base rapidly between 2016 and 2023. At the end of 2023, the bank had over 93 million customers, up from 74.6 million customers a year earlier. With this massive customer base, Nubank is among the leading digital banks in the world in terms of the number of users. 

Startup categories

Startups are defined as new, innovative businesses created by entrepreneurs aiming to make an impact and take over a market. According to their value, successful startups can be divided into three main categories: unicorns, decacorns, and hectacorns. Unicorns are privately owned startups valued at one billion U.S. dollars or more. Meanwhile, decacorns and hectacorns are also privately held companies that have reached a market value of over 10 and 100 billion U.S. dollars, respectively. As of 2023, there were more than 1,400 unicorn startups worldwide, most of them located in the United States and China.

Entrepreneurship in Latin America

With only 24 startups valued at over one billion U.S. dollars as of 2023, Latin America is one of the regions with the lowest number of unicorns worldwide. However, it is one of the most active regions for entrepreneurial activity. For instance, over 30 percent of the adult population of Ecuador, Guatemala, Panama, and Chile are actively involved in setting up new businesses, as compared to an average of 10.4 percent in Asian countries.