After Nubank filed its F-1, Natasha Mascarenhas and Alex Wilhelm dissected the document to learn more about the operations of one of the world’s largest startups.
“With over 40 million users across Brazil, as well as Mexico and Colombia,” the fintech company’s LTV/CAC ratio is central to its success, they found. Notably, as many as 90% of Nubank customers were acquired organically.
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