funding round successfully concluded for NG.CASH, a venture supported by the National Endowment for the Arts, with an investment totaling $26.5 million in Series B.
NG.CASH, a consumer fintech platform based in Brazil, has announced the completion of a $26.5 million Series B funding round. The investment, led by New Enterprise Associates (NEA), is a testament to the platform's success and growth.
The traction of NG.CASH is attributed to its deep understanding of its customer base, with over three million active accounts. The platform offers a comprehensive suite of fintech products, including prepaid cards, device insurance, context-based installment plans, and a conversational AI interface.
With the new funding, NG.CASH plans to accelerate the growth of innovative fintech products tailored for Brazil's digital-first generation. The strategic focus includes the development of regulated stablecoin accounts and context-driven underwriting designed to support users’ long-term financial goals. The expansion also targets the leading edge of payments and lending products, reflecting NG.CASH's goal to empower financial independence and organization for its customers.
The investment round was supported by a strong consortium of investors, including NEA, Quantum Light (led by Revolut’s founder Nikolay Storonsky), Andreessen Horowitz, Monashees, 17Sigma, Daphni, and Endeavor Catalyst. Notable additions to the board include Pierpaolo Barbieri, founder of Ualá and 17Sigma.
Mario, a member of the NG.CASH founding team, previously built Trampolin, a Banking-as-a-Service startup acquired by StoneCo (NASDAQ: STNE). His background in building successful startups contributes to the profile of the NG.CASH team.
The NG.CASH team continues to leverage its creator ecosystem to drive millions of annual impressions. The team's experience in the creator ecosystem provides a unique advantage for the platform.
With this funding, NG.CASH will accelerate the development and expansion of products at the leading edge of payments, including regulated stablecoin accounts and context-driven underwriting. NEA is proud to support NG.CASH as it pioneers one of the defining consumer fintech platforms of its generation. Hunter Worland, Principal at NEA, believes NG.CASH is at the forefront of global payments and consumer fintech.
[1] NG.CASH Press Release, "NG.CASH Secures $26.5 Million Series B Funding to Accelerate Growth and Innovation in Brazil's Digital-First Generation," link
[2] TechCrunch, "NG.CASH raises $26.5M Series B to grow its consumer fintech platform in Brazil," link
[3] Fintech Magazine, "NG.CASH: The Brazilian Fintech Platform Raising $26.5M to Empower Financial Independence," link
- NG.CASH plans to utilize the new funds for the growth and innovation of fintech products, which will include the development of regulated stablecoin accounts and context-driven underwriting, while also focusing on advanced payments and lending solutions, leveraging technology to empower financial independence and organization for its customers.
- The investment round was led by NEA, followed by a consortium of prominent investors such as Quantum Light (led by Revolut’s founder Nikolay Storonsky), Andreessen Horowitz, Monashees, 17Sigma, Daphni, and Endeavor Catalyst, signifying a strong vote of confidence in NG.CASH's business strategy and technology-driven approach to the finance sector.
