Nubank is the sixth-largest financial institution in Brazil and recently surpassed 25 million customers. It is the digital bank’s second M&A transaction, having acquired the Brazilian software consultancy Plataformatec in early 2020.
“Nubank, at its core, is a tech company and we are true believers that technology can have a positive impact on people’s lives. By joining forces with Cognitect, we will be able to further enhance our products to give people control over their money through financial services that are simple, transparent and human,” said David Vélez, founder and CEO of Nubank.
“We have always used technology to solve problems, but with Nubank we are looking forward to an even more direct connection between the systems we build and their impact on millions of people,” added Justin Gehtland, CEO and co-founder of Cognitect.