Author is bullish on Nu Holdings ($NU) as a high-growth fintech company dominating South America with 135M+ customers, strong execution (83% activity rates, $16 ARPAC, $871M Q1 net income), and potential for 10x returns driven by Mexico/Colombia expansion and US entry. Key risks include execution on international expansion, competitive pressures in emerging markets, and valuation assumptions that current $19-22 fair value could reach $100.

NU Holdings is a cheaper, more profitable neobank alternative to the delayed Revolut IPO, operating in LATAM (Brazil, Colombia, Mexico) with plans to expand to the USA in 2027. The company appears undervalued compared to Revolut's theoretical valuation and similar fintech peers, with the main risks being heavy dependence on Brazil's market and execution risk on USA expansion.

Brazilian fintech stocks (NU, STNE, PAGS) are undervalued with attractive valuations and growth potential despite risks from competition and Brazilian economic downturn. Author is building positions across all three companies, betting on digital banking adoption and expansion beyond core payment businesses.