– BRAZIL, São Paulo – Nubank, one of the world’s largest digital banking platforms, today announced the appointment of David Marcus to its Board of Directors.
“David has an impressive career working in the intersection of financial services and consumer technology, shaping the future of the industry. He brings unique perspectives on how to grow consumer and financial products to a truly global scale, having led projects like Meta’s Messenger which grew to over 1.5 billion users under his guidance, and having served as President of PayPal. We are excited to welcome someone with David’s experience to our Board of Directors, as we expand our reach into new markets and segments and keep pushing innovation further,” said CEO and founder, David Vélez,.
About David Marcus
David Marcus is CEO and co-founder of Lightspark and has an extensive career in leadership positions in technology companies including Meta and PayPal. He also has a strong entrepreneurial background, having built three startups over the past three decades. As a Board member, David Marcus will play a fundamental role in Nubank’s journey as the company expands in its multi-country, multi-product, and multi-segment strategy.
Mr. Marcus is the CEO and co-founder of Lightspark, a company focused on building infrastructure for the Lightning network. Most recently he led all payments and crypto efforts at Meta (fka Facebook), which he joined in 2014 to lead Messenger, which he took from under 200 million monthly users to over 1.5 billion. Previously, he was PayPal’s President. A lifelong entrepreneur, Mr. Marcus launched two companies in Europe, then founded mobile payments company Zong in Silicon Valley, which was acquired by PayPal in 2011.
Mr. Marcus joins Nubank as the company has reached nearly 75 million customers across Brazil, Mexico, and Colombia, and delivered a record quarter with growth across all metrics and a meaningful increase in profits. In Brazil only, the company saw net income grow to $138 million in the last quarter, with an annualized ROE of 35% – among the highest in the industry, providing evidence for the profit potential of our business model.
“Nubank is one of the largest and fastest-growing digital financial services platforms worldwide. What the company has achieved in the past decade is an indication of the exciting and significant growth opportunity ahead. I am delighted to join Nubank in this journey as a member of its Board of Directors and looking forward to working closely with the talented leadership and team,” said David Marcus.
Nubank is one of the world’s largest digital banking platforms, serving around 75 million customers across Brazil, Mexico, and Colombia. As one of the leading technology companies in the world, Nubank leverages proprietary technologies and innovative business practices to create new financial solutions and experiences for individuals and SMEs that are simple, intuitive, convenient, low-cost, empowering, and human. Guided by a mission to fight complexity and empower people, Nu is fostering access to financial services across Latin America, connecting profit and purpose to create value for its stakeholders and have a positive impact on the communities it serves.
- Disclaimer - News, data, and statements included in this release are intended exclusively for general information purposes. Talent4Boards does not guarantee that news is accurate or about the correct person and accepts neither liability for the consequences of the reader’s reliance, nor responsibility for the accuracy of the information. Nothing in this release should be considered for decisions about referred securities. Products and brand names may be trademarks or registered trademarks of their respective owners.