Nu México Launches Personal Loans: First Available to Employees, Soon to the Public

The product will have a progressive release. At the moment, it will only be available to a group of company employees, and it will be released to the general public in the coming months..

Nu México, the digital finance company, announced the launch of its new product in the Mexican market: personal loans.

This credit offer, like all Nu products, will follow a phased launch process, beginning in the coming days with a group of Nu Mexico employees, called Nubankers, who will test the product to perfect it before proactively offering it to the market.

“We are very excited to launch personal loans in Mexico,” said Iván Canales, general director of Nu México. “With this new product, we want to democratize access to credit, so that more people can achieve their financial goals.”

Nu México “offers simple, transparent and flexible personal loans”. Clients can access loans of up to 2 million pesos (about US$114,000). The application process is completely digital.

According to the 2022 Survey of Economic Well-being and Attitudes on Financial Decision-Making, carried out by Kantar on behalf of the English group International Personal Finance (IPF), 6 out of 10 Mexicans applied for a loan but, according to the National Survey of Financial Inclusion of 2021 (ENIF) only 33% were able to obtain it from a formal financial institution.

Nu Mexico is one of the fastest growing digital finance companies in the world. Since its launch in Mexico in 2021, the company has amassed more than 2 million customers. The announcement of personal loans is an important milestone for Nu Mexico, as it marks its expansion into new products and services.