The Brazilian company did not disclose further details about the loan, such as interest rates and maturity.

Brazilian digital lender Nubank said on Monday that its subsidiary in Colombia secured a US$150 million loan from the US International Development Finance Corporation (DFC).

"With the resources from this loan, Nu Colombia will continue working to reach more Colombians and expand its portfolio," Nubank said in a statement.

Nubank did not disclose further details about the loan, such as interest rates and maturity.

Of the more than 93 million clients that Nubank reported at the end of 2023, 800,000 were in Colombia, according to the statement. The lender also operates in Brazil, its main market, and Mexico.

It should be noted that the sustained growth experienced by Nubank has allowed the company to reach clients in 100% of the departments of Colombia, as well as 92% of the municipalities of the coffee-growing country.

The new loan adds to the US$265 million financing that Nubank's Colombian unit had obtained last year with the International Finance Corporation, an investment vehicle of the World Bank.

Likewise, the current loan reinforces Nubank's long-term commitment in Colombia, as it includes $1.3 billion pesos (US$344 million), in capital investments made since 2021, which are expected to amount to more than $ 2 billion pesos in the next two years.