Soy loco por ti, América: Nubank’s internationalization process into Latin America

Abstract

This teaching case examines Nubank’s internationalization process into Latin America. Nubank is a fast-growing Brazilian financial startup, and its board of directors is facing the organizational dilemma of selecting the next country to expand into the region. The decision-making process was dramatized for educational purposes to illustrate the dilemma. The case holds significance in describing the internationalization of a digital bank in Latin America, a region with unique characteristics that pose additional challenges in determining the company’s next steps. Students will have the opportunity to delve into topics such as barriers to the internationalization process, entry strategies into an international market, and the political and socioeconomic factors of the countries involved. They will be able to understand the complexity of the situation and produce a robust analysis of the topic.