Nu Holdings' Rapid Customer Gains Are Reshaping Fintech Growth

Core Insights - Nu Holdings Ltd. (NU) has added 4.3 million customers in Q3 2025, bringing the total to 127 million, a 16% year-over-year increase, indicating its growing influence in Latin America's financial system [1][7] Customer Growth and Financial Performance - The impressive customer growth is driving financial momentum, with an average revenue per active customer (ARPAC) of $13, up from $11 last year, demonstrating strong monetization capabilities [2][7] - NU has nearly 106 million active users, showcasing its ability to grow at scale while unlocking significant revenue opportunities [2] Competitive Landscape - In contrast to NU's rapid growth, U.S.-based peers like SoFi Technologies and Block are pursuing different growth strategies, with SoFi focusing on deepening customer relationships and Block enhancing its dual ecosystem approach [4][5] - NU's pace and scale of customer acquisition in emerging markets highlight its distinct momentum compared to its peers [5] Stock Performance and Valuation - NU's stock has surged 62% over the past year, outperforming the industry's growth of 58% [6] - The company trades at a forward price-to-earnings ratio of 20.15X, significantly above the industry's 11.04X, and has a Value Score of D [8] - The Zacks Consensus Estimate for NU's earnings has been increasing over the past 60 days, indicating positive market sentiment [8][9]