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Digital bank Nubank to invest $135 million to expand in Mexico

Credit: REUTERS/PAULO WHITAKER

SAO PAULO, April 8 (Reuters) - Brazilian digital bank Nubank announced on Thursday a $135 million investment to expand services in Mexico.

According to a statement, Nubank will inject $70 million in its Mexican subsidiary and the rest will be financed by JPMorgan Chase & Co JPM.N, Goldman Sachs and Bank of America Corp BAC.N.

Nubank founder and CEO David Velez said Mexico is a promising market for the bank since only 60% of the population has access to banking accounts.

Since Nubank began to offer credit cards in Mexico a year ago, 1.5 million people have requested one.

"We are already among the top five credit card issuers in Mexico," said Emilio González, head of Mexico operations at Nubank.

(Reporting by Alberto Alerigi Jr. Editing by Sonya Hepinstall)

((tatiana.bautzer@tr.com; Tel: +55-11-5644-7756; Mob: +55-119-4210-4173; Reuters Messaging: tatiana.bautzer.thomsonreuters.com@reuters.net))

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