When Cristina Junqueira was asked if she wanted to change the face of Latin American finance was an easy sell, she hd no idea frustration with the banking system would become a multi-billion dollar fintech revolution in across Brazil and Mexico‍

As the co-founder of Nubank, Junqueira didn't just build a company, she built something that challenged a stagnant system, and redefined banking for millions across Latin America – all while making history as a Brazilian female founder. 

The concept for Nubank was born from a profound sense of injustice. Junqueira had witnessed firsthand the labyrinthine fees and willful complexity that Brazilian consumers endured from their banks. She envisioned a radical alternative—a financial partner that championed the customer. 

Junqueira’s journey from a diligent student to the co-founder of the world’s largest independent digital bank is a story of intellect meeting conviction. 

‍Foundation of a Future Leader

Born in 1982 in Ribeirão Preto, São Paulo, she was the eldest of four sisters and grew up in Rio de Janeiro after her family moved there in her infancy. A noted high achiever, she attended St. Ignatius College, a Jesuit school, before moving to São Paulo to study industrial engineering at Universidade de São Paulo (USP). 

Her career began in the rigorous world of strategy consulting at The Boston Consulting Group, all while she simultaneously earned a Master's in economic and financial modeling from USP. Her academic journey culminated in an MBA from Northwestern University’s Kellogg School of Management in 2008, a credential that would later serve as a crucial “insurance policy” for her future co-founders.

Nu Bank in Town

Returning to Brazil, she ascended rapidly within the traditional banking system, first at Unibanco and then, after a merger, at the giant Itaú Unibanco. As a portfolio manager for Itaúcard, she was at the heart of the establishment. But from the inside, she saw a system designed to benefit the few. 

Five banks controlled 80% of a market where customers faced exorbitant fees and punishing interest rates. Her proposals for customer-friendly innovations, like commission-free credit cards, were dismissed. 

The frustration became unbearable and decided to leave stability for the chance to create a better system.

She told Fortune in a 2019  interview, “I worked for the largest incumbent bank in Brazil for five years, and I was just done making rich people richer. I was trying to make a lot of changes to make consumers’ lives better and failing miserably at it. And at some point, I was like, ‘You know what? I’m done.’”

This would leave a meeting that would change her whole life and a kinder spirit: David Vélez. Vélez had been looking to address the same problem for years and was unwilling to accept the financial inequality.

Together, with American software engineer Edward Wible, they founded Nubank in 2013 from a small house in São Paulo’s Brooklin neighbourhood. They chose the name "Nu"—meaning "naked" in Portuguese—to symbolize their commitment to radical transparency.

Nubank launched its first product in 2014—a no-fee, purple credit card managed entirely by a mobile app. It was a direct challenge to the bloated status quo. Under Junqueira’s leadership, first as CEO of Nubank Brazil and now as Chief Growth Officer, the platform expanded into digital accounts, loans, and investments, entering Mexico and Colombia. 

In December 2021, Nubank launched a landmark IPO on the New York Stock Exchange, achieving a valuation exceeding $50 billion and briefly making her a billionaire. In 2024, the company celebrated a staggering milestone: over 100 million customers, a first for any digital banking platform outside of Asia.

Raising Standards

The birth of Nubank was intertwined with the birth of Junqueira’s first child. Seven months pregnant, she flew to San Francisco to secure the company’s critical $15 million Series A funding. 

This alone has helped make her  trailblazer; becoming a model of overcoming gender bias and discrimination in venture capital and fundraising. She even sealed the deal from her hospital bed, she told Fintech Magazine in 2022 – just hours before giving birth. 

This was only the beginning of her journey as a visible role model for working mothers, later becoming the first woman to be featured pregnant on the cover of a Brazilian business magazine.

Now a mother of three daughters, Junqueira continues to lead Nubank’s Brazilian operations with aplomb, expertly juggling her duties at Nubank with being a mother. 

Throughout this meteoric rise, Junqueira never wavered in her advocacy for diversity. Having never had a female boss in her entire career, she ensured it became a core value at Nubank. 

Speaking to McKinsey & Co, Junqueira says: “I want my daughters to grow up in a world where they can dream of being whoever they want to be—and you can’t dream of what you can’t see.”

Advice for the Future

Reflecting on a decade of building a fintech empire, Cristina Junqueira’s advice for founders is forged in experience. She believes defining a company’s culture is the absolute first priority, followed by listening to "customer pain" – a powerful competitive advantage. 

She urges entrepreneurs to be audacious, stating that if you always hit your targets, they aren't bold enough. For her, obstacles are not roadblocks but invitations to focus on what you can control. “Success,” she says in a NUbank blog post, “is a natural consequence.” 

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