Nu Holdings denies pursuing acquisition of UK fintech Monzo

Nu Holdings Ltd. (NYSE: NU) said it is not in talks to acquire British digital bank Monzo, according to a statement issued in response to recent media reports.

The Cayman Islands-based financial technology company said that while it holds "a great deal of respect for Monzo," it is not pursuing a transaction with the UK-based neobank.

Nu said it regularly evaluates partnerships, investments, and acquisitions as part of its normal business operations, but declined to comment on specific opportunities as a matter of general practice.

The company said its capital allocation framework remains unchanged, with investment decisions based on strategic fit, expected returns relative to its cost of capital, long-term value creation per share, and the resources required to execute its priorities.

Nu said its current strategic focus includes expanding its presence in Brazil, Mexico, and Colombia, as well as building operations in the United States through its Nu Global unit.

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