Brazil’s Nubank abandons Easynvest brand; changes name to Nu Invest

RIO DE JANEIRO, BRAZIL – Almost a year after buying Easynvest, Nubank is leaving behind the brokerage firm’s brand and changing its name to Nu Invest – another step in integrating the two companies and the fintech’s investment strategy.

In a first moment, the idea is to maintain separate experiences in the Nubank app and the Nu Invest platform. In the medium term, the fintech intends to bring the two brands together in a single app.

The identity change comes two months after the Central Bank approved the purchase of Easynvest. At the time, Nubank had already rebranded the brokerage, including a “by Nubank” at the end of the name.

The entry into investments is part of Nubank’s strategy to increase its product portfolio further to monetize its base of more than 40 million customers.

In addition to the credit/debit card and checking account, the bank already offered a personal loan product, life insurance. It began offering three multimarket funds on its app in April.

EASYINVEST STORY

Easynvest was founded in 1968 under the name Título Corretora de Valores S.A.. In 1999, the company was one of the first brokers in the country to offer a service for buying and selling shares via the Internet, the Home broker. This tool was given the name Easynvest.

In 2017, it was ranked by CB Insights as one of the 250 most innovative companies whose mission is to facilitate access to the financial market in Brazil.

In 2019, after six months of development, the company launched a variable income platform with a more user-friendly interface and information that meets the needs of retail investors.

On September 11, 2020, Nubank, announced the acquisition of brokerage firm Easynvest. The digital bank entered the investment market with low-interest rates and high demand for risky investments with the acquisition.

The integration of the brokerage business with the digital bank was announced to begin on June 1, 2021, after the necessary legal steps have been completed. To mark the new phase, the brokerage began to use the Easynvest by Nubank brand.

This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error