NG.CASH, a Brazilian fintech platform, has closed a $26.5 million Series B funding round. The investment was led by New Enterprise Associates (NEA), with participation from several other investors, including Quantum Light, Monashees, and Andreessen Horowitz (a16z).
The company, which has over three million active accounts, offers a wide range of fintech products, including real-time payments, prepaid cards, device insurance, and an AI-driven interface. The new funding will be used to accelerate the development of products at the forefront of costs, such as regulated stablecoin accounts and context-driven underwriting.
The founding team, which includes Mario, previously built and sold a Banking-as-a-Service startup called Trampolin. They continue to leverage a creator ecosystem to generate millions of impressions annually, which helps drive their business.
KEY QUOTES:
“We’re building the future of financial access for a generation of Brazilians with solutions that empower financial independence and organization. This raise is the result of years of dedication and rapid growth. It’s a milestone for our entire team, and allows us to continue scaling and delivering more value to our customers.”
Mario Augusto Sá, CEO of NG.CASH
“We believe NG.CASH is at the frontier of global payments and consumer fintech, effectively leveraging the tectonic shift toward real-time payments to create a generational, iconic company. It’s hard to imagine a better team profile to build this company which is reflected in the product and validated in the tremendous traction, which comes from a management that is truly embedded in the problems, opportunities, and financial realities of their customers. We’re proud to support NG.CASH as it pioneers one of the defining consumer fintech platforms of its generation.”
Hunter Worland, Principal at NEA
