Inter Miami’s stadium is now named after a company. Here’s what to know

Brazilian digital finance company Nu has secured naming rights to Inter Miami’s soon-to-open stadium, where Lionel Messi will play. The company, founded in São Paulo in 2013 to challenge Brazil’s dominant banks, has grown into a major fintech player now expanding its reach.

FULL STORY: What’s Nu? Here’s the story behind the new name of Inter Miami’s stadium

Here are key takeaways:

• The venue will be called Nu Stadium at Miami Freedom Park. Nu’s name will also appear on a stadium hospitality lounge and plaza.

• Nu was founded in 2013 by Colombian David Vélez, Brazilian Cristina Junqueira and American computer scientist Edward Wible. Vélez had been working for Silicon Valley venture capital firm Sequoia Capital in Brazil before quitting to start the company.

• Sequoia Capital and Buenos Aires-based Kaszek each invested $1 million in Nu in 2013. Kaszek is run by two Argentines.

• Nu held an initial public offering on the New York Stock Exchange in December 2021, raising $2.6 billion in one of the five largest U.S. IPOs that year.

• Nubank launched its first product, a digital credit card, in 2014 during a rough stretch for Brazil’s economy. GDP grew just 0.5% that year and fell 3% in each of the next two years.

• The company targeted a large unbanked and underbanked market in Brazil and Latin America, and has since expanded to Colombia and Mexico.

This report was produced with the assistance of a proprietary tool powered by artificial intelligence and using our own originally reported, written and published content. It was reviewed and edited by our journalists.