Brazilian fintech unicorn Neon raised a $102M Series E from existing investors. The Series E was divided into two tranches, one of $64M in December 2023 and one of $38M in August 2024.
Neon will use the funds to pursue profitability through enhancing its technology and combining the offers of the companies Neon has acquired recently in its app. Some of the last acquisitions Neon made were payroll-deductible loan startups Biorc, Leve, and Consiga Mais, and Mangliano Invest, a brokerage firm.
“We are bringing innovations to the new app that are capable of substantially increasing cross-sales through strategic personalization of offers,” said Fernando Miranda, Neon’s Co-President.
Founded in 2016, Neon offers digital accounts, credit cards, personal loans, and investments to over 30 million customers in Brazil.
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