Nubank buys Juntos Global, 4th acquisition in one year | Business

Nubank announced this last Wednesday (04) the acquisition of the American platform Juntos Global. The company was born in 2010 and offers banks personalized automated chat services for customer service, operating in 16 countries and supporting more than 20 languages. The financial terms of the deal were not disclosed.

Nubank (Image: Disclosure)

Acquisition will enhance personalized services

Fintech said in a statement that the agreement will integrate the teams of the two companies, bringing together talent from the technology, content and design areas of Juntos Global. Collaboration will result in the development of projects that help understand customers’ needs, information that will be used to assist them in their financial planning and decision-making.

“Now, as part of Nubank, the Juntos team will help us to increasingly improve the experience in interactions with our customers,” said the startup. “Nubank customer service, human and efficient, remains the same. With Juntos, we have the possibility of creating more channels and options for new interactions”, added the digital bank.

Cristina Junqueira, co-founder of Nubank, stated that each client has different needs, so it is “fundamental” for the company to understand them individually and, as a result, deliver a more personalized service. “By bringing the Juntos Global team to our structure, we want to deliver an even more complete experience, bringing together technology and content, with conversations about what is most important to them and possible financial solutions,” he said.

Ben Knelman, founder and CEO of Juntos Global, also commented on the deal: “We found in Nubank, with its purpose and 100% digital platform, a great convergence of values. The team is very excited to, with our knowledge and infrastructure that we have developed over more than ten years, to establish even stronger bonds of trust between Nubank and its clients”.

Nubank announces first investment in another company

Ultraviolet Nubank Card (Image: Disclosure)

Ultraviolet Nubank Card (Image: Disclosure)

This is Nubank’s fourth acquisition in a little over a year. In early 2020, Brazilian fintech announced the purchase of the American company, Cognitect, a software engineering company. Afterwards, he joined the consulting team specialized in agile method and Plataformatec product management. Its latest acquisition was Easynvest, a digital investment platform.

In addition, as part of its ambitious expansion plan, Nubank bet on Jupiter, an Indian neobank, leading a series B investment round together with Sequoia Capital and Matrix Partners, raising US$44 million, as reported by fintech in this Thursday (5th).

“Nubank and Jupiter share the mission of creating the best possible financial experience for clients, eliminating all the bureaucracy and pain of the current system. The Indian and Latin American markets have many similarities and, with this investment, we intend to support them on their growth path and learn from the challenges they will face there. We see a lot of potential in the company and look forward to joining them so early in their journey,” explained David Vélez, CEO and founder of Nubank, in a press release.

Nubank also revealed that it intends to take advantage of the similarities between the markets to reinforce its knowledge and improve its operations in Latin America. Fintech currently has more than 40 million customers. It is Nubank’s first pure investment in another company. So far, the company had only made acquisitions to expand its offer of services, products and internal teams.

Leave a Comment