Portuguese 
English 
Spanish 
3 min of reading 
0 comments 
According to Alex Coimbra, the billion-dollar sale of shares by David Vélez and Cristina Junqueira signals that Nubank has ceased to be a disruptive startup and has fully entered the profit era.
Nubank is not at risk of bankruptcy, but the message is clear: the phase in which the fintech acquired customers at any cost is behind it. On August 15, 2025, just days after announcing a record profit of US$ 700 million, CEO David Vélez sold 33 million shares and pocketed US$ 432 million (about R$ 2.3 billion). Shortly after, co-founder Cristina Junqueira also reduced her stake.
According to Alex Coimbra, a financial sector analyst, these operations represent the landmark transition of Nubank from the “darling” startup to a true big bank, focused on profits and cutting benefits. For customers, this means a new relationship with the institution.
Why Did the Founders Sell Their Shares?
Officially, the justification was “wealth planning”, a common explanation in this type of movement.
-
The government requests the Federal Revenue Service for a new system to automate the income tax declaration, reducing errors, time, and bureaucracy for millions of Brazilians.
-
Pix in installments, international Pix, and contactless payment without internet: the Central Bank revealed the new features coming to the tool that is already used by almost every adult in Brazil.
-
Mercado Livre has just started selling medications with delivery in up to three hours to your door, and this move could completely change the way Brazilians buy medicines on a daily basis.
-
In Dubai, rising tensions from the war in the Middle East are causing super-rich individuals to leave the Gulf and direct their fortunes to a new financial refuge in Asia.
Vélez is also a signatory of The Giving Pledge, an initiative by billionaires like Bill Gates and Warren Buffett to donate part of their fortunes, which indicates that some of the resources may be allocated to philanthropy.
Still, the market interpreted the movement as a sign of maturity and caution.
When insiders realize profits at the peak of valuation, the reading is that the explosive growth rate may not be repeated.
The Phase Change of Nubank
According to Alex Coimbra, Nubank is going through the transition from startup to big bank.
Phase 1 (Startup): attract customers by offering a no-annual-fee card, generous cashback, and innovative service, even if it meant burning through cash.
Phase 2 (Big Bank): with capital publicly traded, the priority shifted to delivering profit and cutting costs, even if it means reducing advantages for customers.
The clearest example is the Nubank Ultravioleta, a premium credit card that lost relevant benefits and became more similar to its competitors.
The bank that once stood out for innovation is now consolidating as a traditional institution.
What Changes for Customers?
For those who use the bank daily, the impact is direct.
Financial solidity increases, as the focus on profits strengthens the institution’s structure. On the other hand, exclusive advantages decrease. Cashback, premium benefits, and waivers are likely to become more limited.
The competition between digital and traditional banks has intensified.
There are already options with more robust points programs, cards with higher cashback, and more profitable investments.
Consumers now need to actively compare products like cards, accounts, CDBs, and insurance, instead of assuming that Nubank always offers the best deal.
Nubank in the Era of Profits
According to Alex Coimbra, Nubank has not ended, but the “revolutionary Nubank” has come to an end.
The company that was born with a disruptive speech and generous benefits is now seeking to consolidate billion-dollar profits and ensure returns for investors.
The billion-dollar sale of shares by the founders was the definitive sign of this era change, marking the farewell to the startup phase and the arrival of Nubank at a level of a consolidated big bank.
In your view, is Nubank still worth it as a primary bank or do the benefit cuts make you seek alternatives? Do you believe the institution will maintain its relevance in the market? Leave your opinion in the comments — we want to hear from those experiencing this change firsthand.
-
-
-
-
-
-
1016 pessoas reagiram a isso.