David Velez & family
$16.4B
Born
Oct 02, 1981
Age
44
Source of Wealth
Fintech
Residence
Sao Paulo,
Citizenship
Colombia
Marital Status
Married
Children
0
Education
Master of Business Administration, Stanford Graduate School of Business; Bachelor of Science, Stanford University
- Vélez is cofounder and CEO of Nubank, a Sao-Paulo based digital bank that offers credit cards, checking accounts and life insurance.
- Founded in 2013, Nubank went public as Nu Holdings on the New York Stock Exchange in December 2021; it has more than 100 million customers in Brazil, Mexico and Colombia.
- Vélez started Nubank after seeing that five Brazilian banks controlled 80% of the market and charged high fees for basic financial products.
- Before Nubank, he did stints in investment banking at Morgan Stanley, private equity at General Atlantic and venture capital at Sequoia.
- Vélez was born in Medellin, Colombia. He and his family fled to Costa Rica when he was nine to escape violence caused by warring drug cartels.
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