Nu Holdings' Rapid Customer Gains Are Reshaping Fintech Growth

Nu Holdings Ltd. NU continues to gain momentum, adding 4.3 million customers in the third quarter of 2025 alone. That pushed its total to 127 million, marking a 16% year-over-year rise and highlighting NU’s expanding influence across Latin America’s financial system.

This impressive customer growth is fueling real financial momentum. Nu’s average revenue per active customer (“ARPAC”) was a solid $13, higher than last year’s $11, a testament to the ability to sustain strong monetization even as it rapidly expands into new markets. With nearly 106 million active users on the platform, NU is proving that it can grow at scale while continuing to unlock meaningful revenue opportunities across the ecosystem.

In a sector where many fintechs chase growth without profit clarity, Nu is showing that customer expansion and financial discipline can coexist. While continuing to innovate and diversify offerings, NU is not only expanding reach but also cementing itself as a long-term player in the digital finance revolution sweeping across emerging economies.

How Are Peers Performing?

While Nu Holdings continues to surge ahead in Latin America, U.S.-based peers like SoFi Technologies SOFI and Block XYZ are taking different routes to growth. SoFi is focusing on deepening customer relationships through bundled financial services like lending, investing and banking. Its strategy seems to emphasize lifetime value over rapid user expansion. Meanwhile, Block is sharpening its dual ecosystem approach, serving both individual users through Cash App and small businesses via Square.

While both SoFi and Block are evolving steadily, NU’s pace and scale of customer acquisition in emerging markets underscore a distinct momentum that sets it apart in the global fintech landscape.

NU’s Price Performance, Valuation, Estimates

The stock has surged 62% over the past year, outperforming the industry’s 58% growth.

From a valuation standpoint, NU trades at a forward price-to-earnings ratio of 20.15X, which is well above the industry’s 11.04X. It carries a Value Score of D.

The Zacks Consensus Estimate for NU’s earnings has been increasing over the past 60 days.

NU stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research