David Vélez and the Founding of Nubank in São Paulo
David Vélez is the founder, chief executive officer and chairman of the board of Nu Holdings, the parent company of Nubank. He launched the business in São Paulo in 2013 together with Cristina Junqueira and Edward Wible, backed by initial funding of US$2 million from Sequoia Capital and Kaszek Ventures.
| Role | Founder, Chief Executive Officer and Chairman |
|---|---|
| Company | Nu Holdings (Nubank) |
| Headquarters | São Paulo, Brazil |
| Industry | Finance and Banking |
| In role since | 2013 |
| Born | Medellín, Colombia |
| Education | BS in Management Science and Engineering and MBA, Stanford University |
| Company website | nu.com |
From Sequoia Capital Partner to Nubank Founder
Vélez was born in Medellín, Colombia, and grew up between Colombia and Costa Rica. He studied mathematics in Cologne, Germany, before earning a bachelor’s degree in management science and engineering and an MBA at Stanford University.
- Early career: investment banking and growth equity roles at Goldman Sachs, Morgan Stanley and General Atlantic
- Sequoia Capital: partner in charge of the firm’s Latin American investment group
- 2012: moved to Brazil, where he had trouble opening a bank account
- 2013: co-founded Nubank with Cristina Junqueira and Edward Wible
- 2021: took Nu Holdings public on the New York Stock Exchange in December
- 2022: appointed Youssef Lahrech to the new post of president, reporting to him, while keeping the CEO role
- 2026: joined the board of directors of OpenAI
Nubank’s Digital Banking Business in Brazil, Mexico and Colombia
Nu runs a digital financial services platform that started in Brazil and later expanded to Mexico and Colombia. The group has also received preliminary approval for some banking activities in the United States. For the second quarter of 2026, Nu recorded about 139 million customers worldwide, after adding roughly 4 million during the quarter.
How Vélez Splits Leadership Duties at Nu
Since 2022, the president of Nu has managed operations, budgets and key performance metrics across products, platforms and markets. This arrangement lets Vélez concentrate on long-term strategy, including product development, entry into new markets, acquisitions and partnerships with companies outside financial services. He also chairs the Nu board, and in July 2026 he became a member of the OpenAI board.
Nu Holdings Pages and Articles Behind This Profile of David Vélez
- Management Team, Nu Holdings Investor Relations
- David Vélez, fundador de Nubank, se unió a la junta directiva de OpenAI, La República
- Nu Holdings Second Quarter 2026 Financial Results, 01net
- Nubank nomeia Youssef Lahrech como presidente, mas fundador segue como CEO, InvestNews
- Quem é David Vélez, fundador e CEO do Nubank, Quero Bolsa
