Nubank Responds Monzo Deal Is Not Being Pursued

Nu Holdings, the parent company of Nubank, has said it is not pursuing a deal with Monzo. The statement follows recent media reports of a possible deal.

As a rule, the company does not comment on specific deals it may be looking at. This time, it chose to make its position clear given how much the media had speculated.

“While we have a great deal of respect for Monzo, the Company is not pursuing a transaction with Monzo,”

Nu said.

Nu added that it regularly looks at partnerships, investments and acquisitions as part of its normal course of business. It said such moves could help it grow and reach its long-term goals.

Its focus remains on three strategic priorities. The first is to deepen its position in Brazil, and the second is to grow its businesses in Mexico and Colombia.

A third is to build its presence in the United States and around the world through Nu Global.

Nu said its approach to allocating capital has not changed. When deciding where to invest, Nu looks at how well each option fits its plans.

It also weighs the returns it expects against its cost of capital, and the long-term value it could add for each share.

Finally, it checks whether it has the leaders and funds to deliver on its goals.

Featured image: Edited by Fintech News Switzerland, based on image by Nubank via its website.

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