Nubank's entry into the mobile network sector aligns with a broader trend among fintech companies. The neobank, which has seen significant growth and now boasts over 100 million customers, offers a range of services including bank accounts, credit cards, loans, insurance, investments, and now, mobile data for travelers. The eSIM service can be activated through the Nubank app and is powered by Gigs, a platform backed by investors like Google's Gradient Ventures and Uber CEO Dara Khosrowshahi.
Key takeaways:
- Nubank, a Brazilian neobank, has launched an eSIM service, marking its entry into the mobile network industry. The service will provide 10GB of free-roaming internet and will be available in over 40 countries.
- The company has become a mobile virtual network operator (MVNO) in collaboration with wireless giant Claro, following approval from Brazil's National Telecommunications Agency.
- The eSIM service targets customers of Nubank Ultravioleta, a premium subscription service, and can be activated through the Nubank app. The service's infrastructure is powered by Gigs, a platform backed by investors like Google's Gradient Ventures and Uber CEO Dara Khosrowshahi.
- Other neobanks like Revolut and Zolve have also launched similar services, reflecting a growing trend in the fintech industry. However, these companies avoid positioning themselves as traditional MVNOs to sidestep additional regulatory oversight.