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FT Partners Advises Neon on its $300,000,000 Series D Financing from BBVA

Overview of Transaction

  • On February 14, 2022, Neon Pagamentos, S.A. (Neon) announced that it has raised US$300 million (R$1.6 billion) of new capital from BBVA (NYSE:BBVA) in its Series D financing round
  • Neon is Brazil’s first neobank dedicated to serving the underbanked Brazilian working class, offering no-fee digital accounts, credit cards, payroll/personal loans, investment services, and microentrepreneur financial services
  • Neon provides its customers with a broad menu of digital banking products, democratizing access to credit for individual workers and supporting Brazil’s thriving ecosystem of microentrepreneurs (MEIs)
  • The company’s “Democredit” platform, a proprietary underwriting model, leverages over 20 adaptive AI models to instantly offer credit to underbanked Brazilian workers
  • Today, Neon handles more than R$5.8 billion in monthly transactions and serves more than 15 million customers throughout Brazil

Significance of Transaction

  • Neon has a demonstrated track record of rapid growth; the transaction will enable Neon to invest in technology, marketing, new products, and capital to accelerate Neon’s goal of being the best partner for the Brazilian worker
  • BBVA’s is one of the largest financial services institutions in Latin America, and the investment represents a continued commitment to foster top-tier fintech innovation in one of the most promising emerging markets

FT Partners' Role

  • FT Partners served as exclusive strategic and financial advisor to Neon
  • The transaction highlights FT Partners’ industry-leading expertise and successful track record within consumer FinTech and emerging markets