Quote from Ndubuisi Ekekwe on October 31, 2021, 2:20 PM

Nubank is rising. 'Backed by Warren Buffett, with more than 40m customers and Brazil’s biggest pop star on its board, Nubank is on the rise. After hitting a $30bn valuation in a funding round earlier this year, the Latin American start-up filed for an IPO in the US that could seal its place among the world’s hottest financial technology companies': "A successful float would be another achievement for Brazil’s booming start-up scene, which has more than a dozen “unicorns” — privately owned companies valued at more than $1bn". Nubank is equivalent to Kuda in Nigeria.

Meanwhile, American Express continues to grow among young people and small companies. The company which used to be for the elite is now rolling with the new segments and demographics it has deepened.

AmEx said that card acquisitions hit a record level in the third quarter for U.S. small-business and consumer Platinum and Gold cards. The company noted that goods-and-services spending by global small- and medium-size enterprises in the third quarter was 21% above the same period in 2019. Large and global corporate-card spending, historically driven by travel and entertainment, “continued to show fewer signs of recovery.”