The Inspiring Journey of Cristina Junqueira: Co-Founder of Nubank
Cristina Junqueira’s decision to leave a stable career in corporate banking for the uncharted waters of fintech was not just a leap of faith; it was a calculated move driven by a vision for change. The pivotal moment came during a meeting with David Vélez, a Colombian venture capitalist who was on a mission to revolutionize banking in Brazil. “People in Brazil and across Latin America thought very high charges, very high interest rates, a dreadful customer experience and being treated badly were normal,” she recalls, highlighting the systemic issues that plagued the industry.
Having recently exited her role at a large Brazilian bank, Junqueira was introduced to Vélez through a mutual friend. He was seeking a local partner who understood the intricacies of Brazil’s banking landscape. “The way he saw the financial industry and its problems was very similar to the way I saw it,” she explains, emphasizing their shared commitment to challenge the status quo.
The Birth of Nubank
In 2013, alongside Edward Wible, a young American software engineer, Junqueira and Vélez launched Nubank from a modest property in São Paulo’s Brooklin district. Their mission was clear: leverage technology to reduce costs, provide financial services to the unbanked, and enhance customer experience. The following year, Nubank introduced a zero-fee credit card managed entirely through a mobile app—an innovative concept in Brazil at the time.
Fast forward a decade, Nubank has emerged as the largest digital financial services platform outside Asia, boasting an impressive 114 million clients, including over 10 million in Mexico and 2.5 million in Colombia. The company’s success has not only transformed the banking landscape but has also made Junqueira a paper billionaire, thanks to her 2.6% stake in the company.
A Trailblazer in a Male-Dominated Industry
Junqueira’s journey is particularly noteworthy in a country where female representation in leadership roles remains limited. “I often like to tell people that in my whole career, I have never had a female boss, ever,” she shares, reflecting on her early experiences in consulting where she and another woman were the only senior female figures in the office.
From the outset, Nubank has prioritized diversity, with Junqueira emphasizing the importance of complementary skills among co-founders. “We already saw the value of having people who complement each other,” she notes, highlighting the diverse backgrounds of the founding team.
Balancing Career and Family
As a married mother of four, Junqueira embodies the challenge of balancing a demanding career with family life. Her husband, an executive in the steel industry, shares the responsibilities of parenthood. Junqueira is keenly aware of the struggles many women face in reconciling their professional ambitions with family commitments. “I get very sad when I see the number of women who still think they have to make a choice [between family and career],” she says.
Her social media presence, particularly on Instagram, serves as a platform for her advocacy. With over half a million followers, she shares insights on motherhood and career, including posts like “The Pregnant Woman is the Most Efficient Mammal on the Planet.” Her experiences, such as pitching for funding while seven months pregnant, resonate with many aspiring female leaders.
A Role Model for Future Generations
Junqueira’s influence extends beyond Nubank. She is viewed as a role model for a new generation of Latin American women who strive to balance successful careers with family life. Susan Segal, president of the Council of the Americas, describes her as part of a transformative wave of women in the region. “She has co-founded a company that has done incredibly well and at the same time she’s juggled a family,” Segal notes.
Despite her success, Junqueira has faced challenges, including a controversial remark regarding diversity in hiring practices. After receiving backlash, she quickly apologized, emphasizing Nubank’s commitment to finding talent among underrepresented groups. “We continue to believe that there is a lot of talent in all the under-represented groups and we will continue looking for the best talent wherever it is,” she asserts.
Looking Ahead
Now at 42, Junqueira remains optimistic about Nubank’s future. She envisions the bank’s potential to expand its technology and bring financial inclusion to millions in underbanked nations worldwide. “I really want to see what we will manage to do in the next 20 or 30 years,” she says, reflecting her unwavering commitment to innovation and social impact.
Cristina Junqueira’s journey from corporate banking to fintech pioneer is a testament to her vision, resilience, and dedication to creating a more inclusive financial landscape. Her story inspires countless individuals, particularly women, to pursue their ambitions without compromising their personal lives.