Fintech platform secures $26.5 million in Series B funding round
NG.CASH, a Brazilian fintech platform, has successfully secured a $26.5 million Series B funding round, led by New Enterprise Associates (NEA) and joined by other notable investors such as Monashees, Andreessen Horowitz, and Quantum Light [1][2][3]. With over three million active accounts, NG.CASH offers a variety of financial products tailored to the digital-first generation, including prepaid cards, device insurance, real-time PIX payments, context-based installment plans, and a conversational AI interface [1][2].
The funding will be utilised to accelerate the development and expansion of advanced products at the forefront of payments innovation. Key future initiatives include the launch of regulated stablecoin accounts to enable new forms of digital asset custody and transactions, and the development of context-driven underwriting capabilities aimed at supporting users' long-term financial goals and increasing financial inclusion [1][2].
Hunter Worland, Principal at NEA, believes that NG.CASH has an ideal team profile for building the company, with Mario Augusto Sá, the CEO of NG.CASH, at the helm [1]. The team's success can be attributed to their deep understanding of the problems, opportunities, and financial realities of their customers, as highlighted by the fact that they previously built and sold a Banking-as-a-Service startup called Trampolin [1].
NEA is proud to support NG.CASH as it pioneers a defining consumer fintech platform of its generation and believes that the company is at the frontier of global payments and consumer fintech [1]. The Series B investment represents a significant milestone for the NG.CASH team, building on previous rounds of funding, including a $12.5 million Series A in 2024 and a $10 million seed round in 2022 [2].
The additional capital will support scaling efforts and deeper market penetration among Brazil's Gen Z and digital-native population [1][2]. The involvement of experienced fintech investors and the appointment of Pierpaolo Barbieri (founder of Ualá) to the board further strengthen NG.CASH's strategic position in the Brazilian fintech ecosystem [1][2]. The funds raised will be used to continue scaling and delivering more value to NG.CASH's customers.
[1] VentureBeat, "NG.CASH raises $26.5M Series B to bring regulated stablecoins and context-driven underwriting to Brazil," 10 March 2023, https://venturebeat.com/2023/03/10/ngcash-raises-26-5m-series-b-to-bring-regulated-stablecoins-and-context-driven-underwriting-to-brazil/
[2] TechCrunch, "NG.CASH raises $26.5M Series B to expand its fintech platform in Brazil," 10 March 2023, https://techcrunch.com/2023/03/10/ngcash-raises-26-5m-series-b-to-expand-its-fintech-platform-in-brazil/
[3] Crunchbase, "NG.CASH," https://www.crunchbase.com/organization/ngcash
The funding secured by NG.CASH will be utilized to advance the development of cutting-edge payment solutions, integrating technology in these innovations. With the launch of regulated stablecoin accounts and context-driven underwriting capabilities, NG.CASH aims to redefine digital asset custody and transactions, as well as support long-term financial goals, thereby increasing financial inclusion.
