Technology

Brazilian payments fintech Neon receives BRL 400 million investment

The investment round, classified as series B, was led by Banco Votorantim and the General Atlantic fund

Brazilian fintech Neon's headquarter
Neon's headquarter. Photo: Neon/Facebook.
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  • Fintech Series A investors, which raised BRL 72 million recently, also participated in this round;
  • The money will be used to expand Neon by investing in marketing efforts and creating credit lines.

The Brazilian payments fintech Neon announced on Monday (18) a contribution of BRL 400 million. The investment round, classified as series B, was led by Banco Votorantim and the General Atlantic fund (the same that has already invested in other Brazilian startups, including QuintoAndar).

Fintech Series A investors, which raised BRL 72 million recently, also participated in this round: Monashees, Omidyar Network, Propel, Quona and Mabi.

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In total, Neon raised BRL 472 million in investments. As the Pequenas Empresas, Grandes Negócios (PEGN) website informed, Neon already has a strategic partnership with Banco Votorantim, which trusts fintech’s assets and is responsible for handling Neon’s payment accounts.

The money will be used to expand Neon by investing in marketing efforts and creating credit lines. Currently, according to PEGN, Neon has 600 employees, 1.6 million active customers, including individuals and businesses, and 3.3 million open accounts.