Neon launches credit card for micro-entrepreneurs

LatamListNeon, a Brazilian fintech, announced the launch of a new credit card for micro-entrepreneurs.

Neon launched a corporate digital account designed for individual micro-entrepreneurs (MEIs) in late 2020. These customers now have access to a credit card.

The card was highly requested by customers, 97% of which said they needed credit and 67% of which suggested it would aid their businesses. The card comes with no annual fees.

Since December last year, the credit card has been tested by 5,000 selected Neon customers. Now, with the official launch, any entrepreneur will be able to order the product. Interested parties can place an order through the MEI Fácil platform or the company’s application.

“Individual micro-entrepreneurs find it very difficult to obtain credit from traditional institutions. Most of the time, they need to use informal channels to raise money,” said Marcelo Moraes, founder of MEI Fácil and director of Neon’s corporate area.

Neon aims to become the main platform for MEI finance in Brazil. After the acquisition of MEI Fácil in 2019, the platform has already helped over one million entrepreneurs in the country.

Read more on Exame.

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