Business

Nubank's new bet to keep growing is the corporate market

Nubank is betting on corporative market
  • Nubank is launching a pilot project that offers checking accounts to small businesses and micro-entrepreneurs
  • The service will be available for 10 thousand clients during its first test
  • For now, the accounts offer basic features, although the company plans to launch the full version by the end of the year

Nubank is taking its first steps into the corporate market. Besides its successful products for final consumers, the Brazilian fintech is now working on a pilot project that seeks to offer checking accounts to small businesses. It will be available for 10 thousand clients starting today (Jul 16) and is focused on freelancers and micro-entrepreneurs. 

The main goal is to reach the 200 million juridic entities in Brazil that are marginalized by the largest banking corporations. In an interview for the Brazilian media outlet Estadão, Cristina Junqueira, co-founder and vice president of Nubank said that “we don’t have the intention of serving big corporations, with sophisticated needs. Our goal is to provide a good service within the small business segment, the majority of the corporate community and a very neglected public.” 

From the start, the product will be launched with a basic package, offering banking transfers, payments, and boleto bancário, the most popular Brazilian payment method. By the end of the year, the product might also include other features, like a debit card. Besides that, the costs of the account have yet to be fixed, but according to Junqueira, the company intends to sustain the policy with low costs for B2C products, with charges only for cash withdrawal.