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Neon Receives $300 Million From General Atlantic, Vulcan Capital, Funds and Accounts Managed by BlackRock, BBVA, and PayPal Ventures in Series C Funding Round

Sep 02, 2020•almost 5 years ago

Amount Raised

$300 Million

Round Type

series c

Sao Paulo

Description

Neon Pagamentos, a leading Brazilian fintech, has secured a Series C investment of $300 million led by General Atlantic, a leading global growth equity firm. New investors participating in the round include funds and accounts managed by BlackRock, as well as Vulcan Capital, PayPal Ventures, and Endeavor Catalyst, in addition to former investors Monashees and Flourish Ventures. BBVA also participated via existing shareholder Propel Venture Partners. The investment will be split between two tranches of $150 million each.

Company Information

Company

Neon

Location

Sao Paulo, Sao Paulo, Brazil

About

Neon Pagamentos is a Brazilian fintech founded in 2016 with the goal of uniting technology and design to simplify users’ financial experience. Born of founder Pedro Conrade’s personal frustration with the services provided by traditional banks in Brazil, including expensive fees and poor customer service, the company launched with a simple digital account and has since expanded its product suite to include investment products, credit cards, and personal loans, serving both consumer and business clients. This expansion has been enabled by the strategic acquisitions of MEI Fácil, which offers tax, payments, and financial education products for micro-entrepreneurs, in 2019, and Magliano Invest, one of Brazil’s first brokerages, in 2020. Today, Neon serves a customer base of more than 9 million accounts across its consumer and business platforms.

FundzWatch™ Score

Medium Activity

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83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech