BYD vs Nubank: Founders, CEOs and History
BYD was founded in 1995 by Wang Chuanfu, Lu Xiangyang and is led by Wang Chuanfu. Nubank was founded in 2013 by David Vélez Osorno, Cristina Helena Zingaretti Junqueira, Edward Wible and is led by David Vélez.
Company facts
Founders
BYD
Wang Chuanfu
Wang Chuanfu founded BYD in Shenzhen in 1995 with his cousin Lu Xiangyang to make rechargeable batteries for mobile phones.
Lu Xiangyang
Lu Xiangyang put up the early capital when Wang Chuanfu started BYD in 1995 and has sat on BYD's board ever since, now as a non-executive director. His stake in BYD made him one of China's richest people.
Nubank
David Vélez Osorno
David Vélez was born in Medellín, Colombia, studied engineering and earned an MBA at Stanford, and worked at Morgan Stanley, Goldman Sachs, General Atlantic and Sequoia Capital before founding Nubank in 2013.
Cristina Helena Zingaretti Junqueira
Cristina Junqueira co-founded Nubank in 2013 and helped design its early credit card and customer-service model. After the 2021 IPO she became one of Brazil's few self-made female billionaires.
Edward Wible
Edward Wible co-founded Nubank in 2013 and served as its first CTO, choosing a cloud-based stack built largely in the Clojure language and the Datomic database. That architecture let Nubank add products and markets without a legacy core banking system.
CEOs and their tenures
BYD
- Wang Chuanfu1995–present
Founder, Chairman and President (CEO)
Wang Chuanfu has run BYD since founding it in 1995. He moved the company from phone batteries into cars in 2003, launched the first mass-produced plug-in hybrid in 2008, introduced the Blade Battery in 2020 and ended combustion-only car production in 2022.
Source - Lu Xiangyang1995–present
Co-Founder and Non-Executive Director
Lu Xiangyang, Wang Chuanfu's cousin and a former banker, provided early capital for BYD in 1995 and has remained on the board, now as a non-executive director.
Source - Stella Li1996–present
Executive Vice President; CEO of BYD Americas and Europe
Stella Li joined BYD in September 1996 as a marketing manager for exports, opened its first overseas office in Hong Kong in 1997 and set up its European headquarters in 1999.
Source
Nubank
- David Vélez Osorno2013–present
Founder, Chairman, and CEO
Vélez founded Nubank in 2013, raised capital from Sequoia and Kaszek, took the company public on the NYSE in December 2021 and led it to its first annual profit in 2023 and a $1 billion quarterly profit in Q2 2026.
Source - Cristina Junqueira2013–present
Co-Founder; CEO, Nu US
Co-founded Nubank in 2013 and shaped its early card product and customer-service culture, then took charge of the US expansion.
Source
Timeline: BYD and Nubank side by side
1995BYD
BYD founded in Shenzhen
Wang Chuanfu and his cousin Lu Xiangyang start BYD in Shenzhen with about 20 employees, making rechargeable batteries for mobile phones.
2000BYD
Becomes a leading NiCd battery maker
BYD becomes one of the world's largest makers of nickel-cadmium batteries, supplying major electronics brands.
2002BYD
Hong Kong listing
BYD lists its H shares on the Hong Kong Stock Exchange under stock code 1211.
2003BYD
Buys Qinchuan and enters the car business
BYD acquires a controlling stake in Xi'an Qinchuan Automobile for about $37.4 million (CN¥269 million), gaining a car production licence and factory.
2008BYD
Berkshire Hathaway takes about 10%
Berkshire Hathaway's MidAmerican Energy invests $232 million for about 10% of BYD, giving the company international credibility.
2008BYD
Launches the F3DM plug-in hybrid
BYD launches the F3DM, the world's first mass-produced plug-in hybrid car, two years before the Chevrolet Volt.
2010BYD
Denza joint venture with Daimler
BYD and Daimler set up Denza as a 50:50 joint venture to build premium electric cars in China.
2011BYD
Launches the e6 and lists in Shenzhen
BYD launches the e6 electric crossover, first used as a taxi in Shenzhen, and lists A shares on the Shenzhen Stock Exchange (002594).
2013Nubank
Nubank founded in So Paulo
David Vélez, Cristina Junqueira, and Edward Wible founded Nubank in a suburban house in So Paulo, Brazil, with the mission to fight complexity and democratize financial services in Latin America.
2014Nubank
Launch of the purple credit card
Nubank launched its first product a no-annual-fee credit card managed entirely through a smartphone app on April 1, 2014.
2017Nubank
Launch of digital account (NuConta)
Nubank launched its digital account product, allowing customers to receive salaries, make transfers, and pay bills without fees.
2019Nubank
Expansion to Mexico
Nubank launched operations in Mexico, beginning with credit cards and later expanding to digital accounts. Mexico would become the company's second-largest market, reaching 10 million customers by 2024.
2020BYD
Launches the Blade Battery
BYD introduces the Blade Battery, an LFP cell-to-pack design that passes the nail penetration test without fire.
2020Nubank
Launch of NuInvest and expansion to Colombia
Nubank launched NuInvest, a zero-fee brokerage platform for stocks and ETFs, and expanded operations to Colombia with the Cuenta Nu digital account. The company also reached 30 million customers globally.
2021Nubank
IPO on the New York Stock Exchange
Nubank completed its IPO on December 9, 2021, raising $2.6 billion at $9 per share and achieving a valuation of approximately $41-45 billion. The IPO made co-founder Cristina Junqueira one of only two self-made female billionaires in Brazil.
2022BYD
Ends combustion-only car production
In March 2022 BYD stops making combustion-only passenger cars and focuses entirely on battery EVs and plug-in hybrids.
2022Nubank
Acquisition of Olivia AI and first annual profitability path
Nubank acquired Olivia AI, an American startup providing AI-powered financial management services, to strengthen its data and personalization capabilities. The company also reduced losses significantly as it moved toward profitability.
2023BYD
Passes Tesla in quarterly BEV sales
BYD sells 3.02 million new energy vehicles in 2023, and its 526,409 battery EVs in the fourth quarter top Tesla's 484,507 for the first time in a quarter.
2023Nubank
First annual net profit and 85 million customers
Nubank reported its first annual net profit of $1.03 billion in FY2023, with revenue of $8.03 billion. The company reached 85 million customers and demonstrated that its digital-only model could generate sustainable profitability.
2024BYD
Takes full ownership of Denza
Mercedes-Benz sells its last 10% of Denza in July 2024, leaving BYD as the sole shareholder of its premium brand.
2024Nubank
Record revenue and 114 million customers
Nubank reported FY2024 revenue of $11.52 billion and net income of $1.97 billion, crossed 100 million customers in May 2024, acquired AI startup Hyperplane, and invested $150 million in South Africa's Tyme Group as part of its $250 million Series D.
2025BYD
Berkshire Hathaway exits
Berkshire Hathaway confirms in September 2025 that it has sold its entire BYD stake, ending a 17-year investment.
2025BYD
Becomes the world's top battery EV seller
BYD sells 2.26 million battery EVs in 2025 against Tesla's 1.64 million, and 4.6 million new energy vehicles in total.
2025Nubank
131 million customers and ARPAC of $15
Nubank added about 17 million customers in 2025, ending the year with 131 million, while quarterly ARPAC reached about $15. FY2025 IFRS revenue was $15.77 billion and net income was $2.87 billion.
2026BYD
Unveils Blade Battery 2.0 and FLASH charging
On March 5, 2026 BYD unveils the second-generation Blade Battery, which charges from 10% to 70% in about five minutes, and plans 20,000 FLASH charging stations in China by the end of 2026.
2026BYD
Overseas revenue passes China
In the first half of 2026 BYD's overseas revenue of ~$25.2 billion (CN¥181.3 billion) exceeds revenue from China for the first time, even as group revenue falls 7.1% to ~$47.9 billion (CN¥344.8 billion).
2026Nubank
Conditional US national bank charter
In January 2026, the US Office of the Comptroller of the Currency granted Nu conditional approval to establish a national bank, with Cristina Junqueira leading the US business.
2026Nubank
First $1 billion quarter and Mexican bank launch
Nu reported Q2 2026 net income of $1.061 billion on gross revenue of $5.88 billion and 139 million customers. In August 2026 it launched its bank in Mexico with 16 million customers.
2026Nubank
US product launch
On September 10, 2026, Nubank launched US products in Miami, including a credit card, high-yield savings and remittances, through sponsor bank Lead Bank while its own charter is pending.
Acquisitions
BYD
- Denza (remaining stake from Mercedes-Benz)2024Undisclosed
- Jabil mobile electronics manufacturing business (China)2023$2B
- Xi'an Qinchuan Automobile2003$32M
Nubank
- Hyperplane2024Undisclosed
- Olivia AI2022Undisclosed
- Spin Pay2021Undisclosed
- Easynvest2020Undisclosed
Questions about BYD vs Nubank
Who is the CEO of BYD Company Ltd and Nu Holdings Ltd.?
BYD Company Ltd is led by Wang Chuanfu and Nu Holdings Ltd. is led by David Vélez. Both serve as the top executive responsible for the company's strategy, operations, and financial performance.
When was BYD Company Ltd founded vs Nu Holdings Ltd.?
BYD Company Ltd was founded in 1995 — 18 years before Nu Holdings Ltd., which was founded in 2013. BYD Company Ltd's longer operating history gives it a deeper track record but also potentially more institutional inertia compared to the younger Nu Holdings Ltd..
How many employees does BYD Company Ltd have compared to Nu Holdings Ltd.?
BYD Company Ltd employs approximately 911,900 people, while Nu Holdings Ltd. employs approximately 10,027. BYD Company Ltd has the larger workforce at 911,900 employees, compared to Nu Holdings Ltd.'s 10,027. A higher headcount does not necessarily imply greater efficiency — it often reflects differences in business model (e.g., manufacturing vs. software).
Where are BYD Company Ltd and Nu Holdings Ltd. headquartered?
BYD Company Ltd is headquartered in China and Nu Holdings Ltd. is headquartered in Brazil. Their different home markets mean they may face different regulatory frameworks, tax regimes, and currency exposure.
Who founded BYD Company Ltd and Nu Holdings Ltd.?
BYD Company Ltd was founded by Wang Chuanfu, Lu Xiangyang. Nu Holdings Ltd. was founded by David Vélez Osorno, Cristina Helena Zingaretti Junqueira, Edward Wible.
Which company has a longer operating history — BYD Company Ltd or Nu Holdings Ltd.?
BYD Company Ltd has been operating for approximately 31 years, making it the more established of the two companies. Nu Holdings Ltd. has been in operation for around 13 years. A longer operating history often signals greater institutional resilience and brand recognition, though it can also mean slower adaptation to new market conditions.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the BYD vs Nubank overview