About Nomad

Nomad is a fintech platform that offers a digital bank account and investment services in U.S. dollars for Brazilian users, enabling seamless international transactions and access to the American financial market. The platform addresses the challenges of currency conversion and high fees associated with overseas banking by providing competitive exchange rates and zero-commission investment options.

```xml <problem> Brazilians face challenges when trying to participate in the U.S. financial market, including currency conversion fees, high operational costs, and the complexity of international transactions. Traditional overseas banking solutions often lack the convenience and accessibility of local digital platforms. </problem> <solution> Nomad provides a fintech platform that simplifies international financial management for Brazilians by offering a U.S. dollar-based digital account and investment services. Users can easily convert Brazilian Reais to U.S. dollars at the commercial exchange rate, make international transfers, and invest in American financial assets with zero-commission brokerage. The platform features a debit card for global spending in over 180 countries, supports international payments, and offers a loyalty program (Nomad Pass) for reduced operational fees. Nomad aims to provide a secure, user-friendly, and cost-effective way for Brazilians to manage their finances internationally. </solution> <features> - Digital account denominated in U.S. dollars, accessible via a mobile app for Android and iOS - International debit card (physical and virtual) for purchases in over 180 countries with automatic currency conversion - Investment platform offering access to ETFs, fixed income assets, stocks and REITs in the U.S. market - Real-time currency exchange from BRL to USD at the commercial dollar rate - Fee structure with transparent conversion rates and low operational costs (1.1% for investment accounts, 3.5% for international accounts) - Nomad Pass loyalty program offering reduced conversion fees and exclusive benefits - Integration with Ouribank S.A. Banco Múltiplo for secure currency exchange and transfers - FDIC insurance up to $250,000 on U.S. dollar deposits through Community Federal Savings Bank - 24/7 customer support in Portuguese, including weekends and holidays, with a toll-free line for customers in the U.S. - Nomad Lounge access at Guarulhos Airport and exclusive benefits in Orlando </features> <target_audience> The primary target audience is Brazilian residents who travel internationally, make purchases in foreign currencies, receive payments from abroad, or are interested in investing in the U.S. financial market. </target_audience> ```

What does Nomad do?

Where is Nomad located?

Nomad is based in São Paulo, Brazil.

When was Nomad founded?

Nomad was founded in 2019.

How much funding has Nomad raised?

Nomad has raised 118770000.

Location

São Paulo, Brazil

Founded

2019

Funding

118770000

Employees

876 employees

Major Investors

Tiger Global Management

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Nomad

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Executive Summary

nomadglobal.com 50K+

Crunchbase

Founded 2019 – São Paulo, Brazil

Funding

Estimated Funding

$100M+

Major Investors

Tiger Global Management

Team (500+)

No team information available.

Company Description

Problem

Brazilians face challenges when trying to participate in the U.S. financial market, including currency conversion fees, high operational costs, and the complexity of international transactions. Traditional overseas banking solutions often lack the convenience and accessibility of local digital platforms.

Solution

Nomad provides a fintech platform that simplifies international financial management for Brazilians by offering a U.S. dollar-based digital account and investment services. Users can easily convert Brazilian Reais to U.S. dollars at the commercial exchange rate, make international transfers, and invest in American financial assets with zero-commission brokerage. The platform features a debit card for global spending in over 180 countries, supports international payments, and offers a loyalty program (Nomad Pass) for reduced operational fees. Nomad aims to provide a secure, user-friendly, and cost-effective way for Brazilians to manage their finances internationally.

Features

Digital account denominated in U.S. dollars, accessible via a mobile app for Android and iOS

International debit card (physical and virtual) for purchases in over 180 countries with automatic currency conversion

Investment platform offering access to ETFs, fixed income assets, stocks and REITs in the U.S. market

Real-time currency exchange from BRL to USD at the commercial dollar rate

Fee structure with transparent conversion rates and low operational costs (1.1% for investment accounts, 3.5% for international accounts)

Nomad Pass loyalty program offering reduced conversion fees and exclusive benefits

Integration with Ouribank S.A. Banco Múltiplo for secure currency exchange and transfers

FDIC insurance up to $250,000 on U.S. dollar deposits through Community Federal Savings Bank

24/7 customer support in Portuguese, including weekends and holidays, with a toll-free line for customers in the U.S.

Nomad Lounge access at Guarulhos Airport and exclusive benefits in Orlando

Target Audience

The primary target audience is Brazilian residents who travel internationally, make purchases in foreign currencies, receive payments from abroad, or are interested in investing in the U.S. financial market.