This is a great bank overall. The company is not really like Propel. Propel is an alt lender, typically giving out loans to distressed borrowers and ones with low credit. Nu Holdings is more of a traditional bank, offering credit cards, bank accounts, etc.
There is actually a HUGE target market for this company. Under-banked populations in Latin America. Mexico and Colombia are growth engines and the company is reportedly exploring further geos, potentially even the US.
This is something I would not own simply because I do not understand the banking environment in Latin America all that well. The regulations, risks, etc. What I will say is credit quality has a higher chance of deteriorating quickly in those areas.
If you're comfortable with the risks though and understand that market well, it looks like a very solid company though. But just look to the massive drawdowns during the high inflation environment and the 2022 situation and ask yourself if you'd be willing to potentially see that again. Not saying it will happen, but it could.