Investment venture NG.CASH, supported by the National Endowment for the Arts (NEA), reveals successful culmination of $26.5M Series B financing round.
NG.CASH Secures $26.5 Million Series B Funding for Fintech Expansion
NG.CASH, a Brazilian consumer fintech platform, has successfully closed a $26.5 million Series B funding round. The investment was led by New Enterprise Associates (NEA) and included participation from Quantum Light, Monashees, Andreessen Horowitz (a16z), and other notable investors [1][2].
The funding marks a significant milestone for NG.CASH, enabling the company to accelerate the development and expansion of its innovative fintech products. The platform, initially launched as a real-time payments provider, has expanded to offer a comprehensive suite of services, including prepaid cards, device insurance, context-based installment plans, and a conversational AI interface [1].
NG.CASH aims to leverage this funding to push the boundaries of financial solutions. The company plans to focus on advancing innovative features such as regulated stablecoin accounts and context-driven underwriting. These features are designed to empower users by enhancing their financial management and long-term financial goals [1][3].
The context-driven underwriting will utilise data and AI to create personalised credit and payment products tailored to users’ financial situations. This strategy aligns with NG.CASH’s commitment to serving Brazil’s digital-first generation [1][3]. The regulated stablecoin accounts are expected to provide users with modern, secure digital assets within a compliant framework, further solidifying NG.CASH’s leadership at the intersection of payments and digital finance [1].
The NG.CASH team's past successes, such as the acquisition of Trampolin by StoneCo, indicate their potential for future success. Mario, a member of the founding team, previously built Trampolin, a Banking-as-a-Service startup, and has experience co-founding a creator channel [1]. His involvement in the NG.CASH team brings expertise from both the creator and fintech industries.
The company boasts over three million active accounts and continues to leverage its creator ecosystem to drive millions of annual impressions [1]. Ualá founder Pierpaolo Barbieri founded 17Sigma and is joining the board of NG.CASH. Other notable investors in the round include Monashees, Andreessen Horowitz (a16z), Endeavor Catalyst, 17Sigma, Daphni, and Quantum Light [1][2].
With this funding, NG.CASH will continue to innovate at the forefront of payments, providing users with advanced financial solutions tailored to their needs in Brazil's growing digital economy.
[1] TechCrunch. (2022, March 17). NG.CASH raises $26.5M Series B to build next-gen financial access in Brazil. Retrieved from https://techcrunch.com/2022/03/17/ngcash-raises-26-5m-series-b-to-build-next-gen-financial-access-in-brazil/
[2] NG.CASH. (n.d.). About Us. Retrieved from https://www.ngcash.com.br/sobre-nos
[3] TechCrunch. (2022, March 17). NG.CASH raises $26.5M Series B to build next-gen financial access in Brazil. Retrieved from https://techcrunch.com/2022/03/17/ngcash-raises-26-5m-series-b-to-build-next-gen-financial-access-in-brazil/
NG.CASH's latest funding of $26.5 million will allow them to advance in the business sector, specifically focusing on expanding their technology-driven fintech products. The company's future plans include the development of regulated stablecoin accounts and context-driven underwriting, aiming to create personalized financial solutions for Brazil's digital-first generation.
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