Business

Nubank acquires consultancy company Plataformatec

With the acquisition, the Brazilian fintech adds 50 new developers to its team

The Brazilian fintech and decacorn Nubank has kicked off the year with a novelty that will help the startup enhance its technical sector and develop new products. The acquisition of the consultancy service Plataformatec, focused on engineering software and agile methodologies, was revealed by Nubank this Monday, according to the news media outlet Estadão.

“Our biggest gap nowadays is in the technical area and Plataformatec team has been providing consultancy for us for some time, with a very good level of talent,” said cofounder Cristina Junqueira to the newspaper. With the acquisition, Nubank adds 50 new professionals from Plataformatec to its development team.  

With 2.5 thousand employees, Nubank has hired 300 new professionals over the last year to its engineering team, ending 2019 with 500 employees in the area. According to Junqueira, the fintech’s goal is to keep attracting talents in the same fast pace, not only in Brazil but also abroad, since Nubank has offices in Mexico, Argentina, and Germany. 

Aiming at a growth of 50% in its customer base, which means to reach 30 million users, Nubank’s plans for 2020 also includes launching new products such as a service of personal loans, as well as the credit card for the Mexican market still in this quarter. Now backed by the acquisition of Plataformatec, which had in its portfolio other companies such as the fintech Creditas and the investment firm Easynvest, the new team will help Nubank to gain efficiency, speeding up its automatization process and product development.