With a powerful collection of some of Wall Street’s most esteemed backers behind the challenger bank, Nubank’s December 2021 IPO was a watershed moment across the whole of the fintech landscape. After its first full quarter as a public company, it’s clear that the performance of NU is going to play a major role in whether other firms follow suit.
Already we’ve seen other key players in the world of fintech scaling back their IPO plans as Nubank initially experienced mixed fortunes in its floatation. After initially angling for a Q1 2022 IPO, US fintech Chime shelved its plans to go public. Meanwhile, other major challenger banks like Revolut have expressed no desire whatsoever to launch an IPO at this stage in its lifecycle.
