Nubank appoints former Meta crypto head David Marcus to board
Brazilian challenger Nubank has appointed David Marcus to its board of directors.
David Marcus joins Nubank’s board of directors
Nubank says Marcus, who is currently the CEO of Lightspark, a Bitcoin utility network he co-founded, will play a “fundamental role” in its plans to expand into new territories and develop additional product offerings targeting new segments.
Marcus previously spent seven years at Meta, where he led its payments and crypto teams.
Prior to his departure in late 2021, he was head of Meta’s fintech unit Novi, a digital wallet designed for use with Meta’s own cryptocurrency Diem (formerly Libra) – which Marcus also helped to create.
The crypto project was eventually dropped by Meta due to regulatory roadblocks.
He joined the firm, formerly Facebook, in 2014 to lead Messenger, growing the instant messaging arm of the company from under 200 million monthly users to more than 1.5 billion.
Prior to this, he was president at PayPal and also founded mobile payments company Zong, which was acquired by PayPal in 2011.
“Nubank is one of the largest and fastest-growing digital financial services platforms worldwide”, Marcus says, adding there is a “significant growth opportunity ahead” for the firm.
Marcus joins a board made up of Anita Sands, Daniel Goldberg, Doug Leone, Jacqueline Reses, Luis Alberto Moreno, Thuan Pham, Rogério Calderón and chairman David Vélez.
Vélez, who is also CEO and founder of Nubank, says Marcus’ career at the “intersection of financial services and consumer technology” affords him “unique perspectives” on how to scale consumer and financial products globally.
Nubank currently serves around 75 million customers across Brazil, Mexico and Colombia.
