Investment venture NG.CASH, supported by the National Endowment for the Arts, reveals the completion of a $26.5 million Series B funding round.
NG.CASH Secures $26.5 Million Series B Funding for Payment Innovation
NG.CASH, a leading Brazilian consumer fintech platform, has successfully closed a $26.5 million Series B funding round, led by New Enterprise Associates (NEA). This investment will accelerate the development and expansion of NG.CASH's innovative payment products, with a focus on regulated stablecoin accounts and context-driven underwriting models.
The funding round also saw participation from Monashees, Andreessen Horowitz (a16z), Endeavor Catalyst, 17Sigma, Daphni, and Quantum Light, the innovation-focused fund launched by Revolut founder Nikolay Storonsky.
NG.CASH, originally launched as a real-time payments platform, offers a range of fintech products. These include prepaid cards, device insurance, context-based installment plans, a conversational AI interface, and real-time payments. Many of these services are provided through a subscription model.
With the new funding, NG.CASH aims to expand its offerings at the forefront of payments technology. The company plans to develop regulated stablecoin accounts, facilitating digital currency transactions within compliance frameworks, and underwriting solutions tailored to support users’ financial independence and long-term objectives.
The CEO, Mario Augusto Sá, emphasised the importance of building solutions for Brazil’s digital-first generation, focusing on young adults aged 18 to 30. The goal is to provide accessible credit and intelligent financial insights to empower financial independence and organisation.
The NG.CASH team's exceptional management profile is reflected in the product's success. The team, which includes Mario, a member who previously co-founded Neagle, one of Brazil's largest creator channels, has also built Trampolin, a Banking-as-a-Service startup acquired by StoneCo (NASDAQ: STNE).
NG.CASH currently boasts over three million active accounts and has a strong creator ecosystem that drives millions of annual impressions. The company's products are bundled under a core subscription offering, and 17Sigma's founder, Pierpaolo Barbieri, will join the board of NG.CASH.
Hunter Worland, Principal at NEA, expressed his belief in NG.CASH being at the forefront of global payments and consumer fintech. He stated, "NEA is proud to support NG.CASH as it pioneers a defining consumer fintech platform of its generation."
As NG.CASH moves forward, it plans to develop context-driven underwriting designed to support users' long-term financial goals, further cementing its position as a leader in the payments and consumer fintech sector.
- The new Series B funding secured by NG.CASH will aid in growing their business by accelerating the development and expansion of innovative payment products, particularly focusing on technology like regulated stablecoin accounts and context-driven underwriting models.
- As a leading player in both payments technology and consumer fintech, NG.CASH aims to utilize the fresh funds to develop additional offerings, such as regulated stablecoin accounts for digital currency transactions, ensuring compliance within frameworks, and tailored underwriting solutions to support users' financial independence and long-term objectives.
