Adbon Nacif, Nexu | Running a Profitable Fintech and Selling $70M a Year After Nearly Going Under

The audio and video are in Spanish. These notes are a translation.

Today I spoke with Abdon Nacif, co-founder and co-CEO of Nexu, a leading auto financing platform that bills close to $70 million a year. Nexu has raised +$30M in capital and secured + $150M in debt, with the backing of investors such as Y Combinator, Altos Ventures, and Wollef Ventures.

Youtube Timestamps*

[1:26] - Mental Strength as an Entrepreneur

What was the most formative event of his childhood that influenced his strength as an entrepreneur?
How did he face moments of difficulty while building Nexu, and what has he learned about developing mental strength intentionally?
What episodes in his life prepared him best for the challenges of leading a startup?
How do you turn difficult situations into opportunities for personal and professional growth?

[13:38] - Auto Credit Market

In Mexico, only 3 out of 10 people had access to a vehicle loan.

Why is access to vehicle credit so limited?
How has Nexu managed to double the approval rate to 60%?

The credit sector in Mexico is full of technical and market challenges.

What makes credit businesses so difficult to operate?
How did they validate their risk models in Nexu’s early stages?

Competing with banks that have lower funding costs is a constant challenge.

How does Nexu position itself in the face of these limitations?
What lessons have come from scaling a credit business in a controlled and capital-efficient way?

[34:30] - Culture and Leadership

Nexu was built on principles of austerity and resilience.

What does “doing more with less” mean, and how is it implemented at the level of culture, team, and operations?
How have they faced near-death experiences as a company, and how did these shape Nexu’s vision and culture?

Servant leadership is at the center of Abdon’s philosophy.

How does he apply servant leadership to inspire and guide his team?
What has he learned about communicating a clear and compelling vision?

Nexu has a two-headed leadership model with co-CEOs.

What are the advantages and disadvantages of this model?
What does it take for it to work effectively?

[47:00]- Rapid-Fire Question Round

How does he imagine Nexu in 10 years?
What is the hardest part of leading Nexu, besides time?
What questions are people not asking him that he thinks they should ask more often?