--- title: Nubank: 2024 TIME100 Most Influential Companies description: Nubank: 2024 TIME100 Most Influential Companies canonical: https://time.com/collections/time100-companies-2024/6980420/nubank/ article:content_tier: free article:published_time: 2024-05-30T11:30:53.000Z article:modified_time: 2026-03-31T05:12:34.476Z article:section: Business og:title: TIME100 Most Influential Companies 2024: Nubank og:description: Find out why Nubank is on the list og:url: https://time.com/collections/time100-companies-2024/6980420/nubank/ og:site_name: TIME og:image: https://static.time.com/v3/assets/bltea6093859af6183b/blt51898685de0adbd3/698a573586f68e2fa96f52ac/time100-companies-nubank-2024.jpg?branch=production&width=3840&quality=75&auto=webp&crop=16:9 og:image:width: 1200 og:image:height: 675 og:image:alt: TIME100 Most Influential Companies 2024: Nubank og:type: article twitter:card: summary_large_image twitter:title: TIME100 Most Influential Companies 2024: Nubank twitter:description: Find out why Nubank is on the list twitter:image: https://static.time.com/v3/assets/bltea6093859af6183b/blt51898685de0adbd3/698a573586f68e2fa96f52ac/time100-companies-nubank-2024.jpg?branch=production&width=3840&quality=75&auto=webp&crop=16:9 --- May 30, 2024 # Nubank by [Alison Van Houten](https://time.com/author/alison-van-houten/) ## Alison Van Houten  Nubank is the world’s most valuable digital bank Nubank is the world’s most valuable digital bankCourtesy of Nubank In an increasingly digitized economy, the 1.4 billion people who live on cash alone are left behind. "You are completely marginalized," says David Vélez, CEO of Brazil-based Nubank, the world’s most valuable digital bank. Unable to buy a product or service online, “you end up being basically precluded from participating in economic development." Lack of access to formal financial services also forces many people into risky behaviors like saving cash at home or turning to high-interest loan sharks. Nubank has ushered nearly 22 million people into the financial system for the first time; in May, it became the first neobank outside of Asia to amass more than 100 million customers. Last year, Nubank added 19.3 million customers as well as 40 new products, including a suite of antifraud features like Street Mode, which lets users limit mobile transactions if their phone is not connected to a secure, predefined wi-fi network. In 2023, Nubank hit $1 billion in profit, a first for any Western online-only bank. ```json [{"@context":"https://schema.org","@type":"Article","@id":"https://time.com/collections/time100-companies-2024/6980420/nubank/","mainEntityOfPage":{"@type":"WebPage","@id":"https://time.com/collections/time100-companies-2024/6980420/nubank/"},"headline":"Nubank","datePublished":"2024-05-30T11:30:53.000Z","dateModified":"2026-03-31T05:12:34.476Z","description":"","url":"https://time.com/collections/time100-companies-2024/6980420/nubank/","keywords":["Companies","franchise","Magazine","Special Project","sponsorshipblock","Accolades"],"thumbnailUrl":"https://static.time.com/v3/assets/bltea6093859af6183b/blt51898685de0adbd3/698a573586f68e2fa96f52ac/time100-companies-nubank-2024.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","author":[{"@type":"Person","name":"Alison Van Houten","jobTitle":null,"url":"https://time.com/author/alison-van-houten/"}],"creator":"Alison Van Houten","articleSection":"Business","image":[{"@type":"ImageObject","url":"https://static.time.com/v3/assets/bltea6093859af6183b/blt51898685de0adbd3/698a573586f68e2fa96f52ac/time100-companies-nubank-2024.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","width":1200,"height":675}],"publisher":{"@type":"Organization","name":"Time","url":"https://time.com/","logo":{"@type":"ImageObject","url":"https://time.com/images/logo.png","width":528,"height":156},"foundingDate":"March 3, 1923","sameAs":["https://www.facebook.com/time","https://www.instagram.com/time/?hl=en","https://twitter.com/time","https://www.pinterest.com/timemagazine"]}},{"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"/section/business/","name":"Business"}},{"@type":"ListItem","position":2,"item":{"@id":"/tag/companies/","name":"Companies"}},{"@type":"ListItem","position":3,"item":{"@id":"https://time.com/collections/time100-companies-2024/6980420/nubank/","name":"Nubank"}}]}] ```