Lulo Bank
“Can Colombia's Gilinski Group leverage its existing banking license and GNB Sudameris branch network to build the Nubank of Colombia?”
Founded2021
HQBogotá, Colombia
IndustryFintech / Neobank
The story
Lulo Bank is the digital-banking arm of Colombia's Gilinski Group (which also owns Banco GNB Sudameris and stakes in Grupo Nutresa). Launched in 2021 as a mobile-first consumer bank in Colombia, Lulo offers savings accounts ('Lulo cuenta'), debit cards, savings pockets (Bolsillos), and personal credit. In 2024-2025 it expanded into SMB banking via Lulo Empresas. Strategically it is positioned as Colombia's answer to Nubank — leveraging GNB Sudameris's physical branch network for cash deposits while delivering a digital-native UX.
Product timeline
2021
Lulo Bank launches as Colombia's first 100% digital bank, backed by Gilinski Group.· banking
2025
Launch of Lulo Empresas, the business banking arm offering digital onboarding, payments and financing for SMBs.· banking
Regulated entities
1
regulatory licence held by Lulo Bank
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
4 layers disclosed in Lulo Bank’s embedded-finance stack
Payments / PSP
Lulo Bank (in-house, chartered bank)
Banking / BaaS
in the full report
Card issuing
in the full report
Lending
in the full report
Accounting gap: significant
4 more providers across 3 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.