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Fintech Nubank to launch personal loans for Mexican market

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Nubank, one of Latin America's biggest fintech companies, announced on Tuesday the launch of personal loans for the Mexican market, aiming to boost its financial services portfolio in the region's second-largest economy. The new product will allow customers to obtain personal loans in less than five minutes through its platform, the digital bank's Mexican arm, known as Nu Mexico, said in a statement. The announcement follows the bank's launch of savings accounts in Mexico earlier this year, which it said had more than one million users after a month.

Nubank, a Brazilian FinTech startup celebrates the company's IPO at the NYSE in New YorkMEXICO CITY - Nubank, one of Latin America's biggest fintech companies, announced on Tuesday the launch of personal loans for the Mexican market, aiming to boost its financial services portfolio in the region's second-largest economy.

The service will be available to employees on a test mode before hitting the market in the following months, it added. "Around 20% of the adult population connected by smartphones in Mexico has already applied to a Nu product. We look forward to continuing to expand our footprint in the country," said the fintech's Mexico head, Ivan Canales.

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