German Fintech N26 Primed for Growth in Brazil, but Nubank Has Home-field Advantage

N26 is one of the biggest fintechs in the world, supported by well-known global investors. N26 has more than 5 million customers across 25 European markets and the USA, and has experience in conquering new markets. 

RIO DE JANEIRO, BRAZIL - The Berlin-based German fintech received a license from the Brazilian Central Bank to "carry out credit operations," including third-party credit analysis, and issue electronic currency in the country, per AltFi.

This news is long-awaited: N26 first announced plans to enter Brazil in 2019, which CEO Valentin Stalf noted represents a much bigger opportunity than the UK, where the neobank withdrew early last year due to Brexit concerns. The neobank's future goals include breaking even in late 2021 and raising additional funds, before going public in 2023 at the earliest.

Brazil represents a . . .

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