Brazil´s Largest Fintech Nubank to Fund Education of Black People After Backlash
RIO DE JANEIRO, BRAZIL – Founders of São Paulo-based Nubank, Brazil´s biggest fintech, said on Thursday, November 12th, in a letter that the company will fund the teaching of programming skills to 1,250 Black people.
The move comes after strong criticism from Nubank’s clients as its co-founder Cristina Junqueira made a controversial comment in a recent TV interview saying the fintech could not “lower its standards” to increase the presence of Blacks in its management.
The fintech will invest R$20 (US$3.7) million reais in the initiatives to boost the presence of Blacks in the company and also in the job market as a whole.
Founders David Velez, Edward Wible and Junqueira said Nubank will also launch in 2021 a mentorship program focused on Blacks, besides reviewing its recruiting standards.
Source: Reuters
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