After Nubank filed its F-1, Natasha Mascarenhas and Alex Wilhelm dissected the document to learn more about the operations of one of the world’s largest startups.
“With over 40 million users across Brazil, as well as Mexico and Colombia,” the fintech company’s LTV/CAC ratio is central to its success, they found. Notably, as many as 90% of Nubank customers were acquired organically.
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Even with more competitors entering their markets, Nubank’s sticky customers generate a relatively high monthly average revenue.
As a direct result, its CAC payback periods are relatively short and its “losses do not appear even close to lethal,” report Natasha and Alex. “Indeed, they are more modest than we anticipated.”
More neobanks are waiting to get on deck and take their tu …
