David Vélez

Born in Colombia and educated at Stanford, David Vélez worked in investment banking, private equity and venture capital before choosing entrepreneurship. His time in Brazil exposed a concentrated banking market, a painful customer experience and a new technological opening: smartphones could distribute a financial product without reproducing the branch networks of incumbents. That combination of a local problem and a timely technological shift became the starting thesis for Nubank.^1,2

Nubank’s development is also a story of complementary founders. Vélez brought the thesis and the ability to mobilize investors; Cristina Junqueira understood Brazil’s banking system and customer experience; Edward Wible built the technical foundation. Their first purple card launched in 2014. The company later expanded its products and presence across Brazil, Mexico and Colombia while maintaining a consistent aim: reduce complexity and advocate for customers against entrenched financial practices.³