Neon

Contxto – We already talked about the hottest startups among LinkedIn users in Mexico this week. Now, it’s Brazil’s turn. Remember that, when it comes to its top startup rankings, the social network for professionals factors in variables like employee growth, jobseeker interest rates, as well as engagement levels between startups and their employees. And […]

Contxto – Brazil continues to be a hotbed of investments in investment startups. Today (21), Ideal, a brokerage platform announced it closed R$100 million (~US$18.4 million) in a Series A led by Kaszek Ventures.  It will use the funds to scale and connect its products with retailers. Ideal tailwinds Ideal isn’t a platform for individuals […]

Contxto – Freshly funded with an alleged US$300 million, Brazilian Nubank is reaching into new fintech verticals. Today (11), the unicorn announced its acquisition of São Paulo-based Easynvest, a brokerage platform with 1.5 million customers and a reported R$20 billion (~US$ 3.8 billion) in assets under management. The deal consisted in a part cash, part shares […]

Contxto – Big growth plans means big funds are needed and Neon recently banked just that. Today (2) the fintech announced it closed US$300 million for its Series C. General Atlantic returned as the round ringleader. Newcomers BlackRock, PayPal Ventures, Vulcan Capital, and Endeavor Catalyst joined the table. Meanwhile previous investors Monashees, Flourish Ventures, and […]

Contxto – Sometimes, to launch a new product that offers insightful features means building it from scratch. Or, in fintech Neon’s case, by acquiring a securities broker and just absorbing that knowledge. Yesterday (16) news broke that Neon bought Magliano Invest—one of the oldest brokerage firms in Brazil—for an undisclosed amount. Correspondingly, Magliano’s small team […]

Contxto — The private equity sector has been progressing rapidly in Brazil. With economic stability firmly established, dropping interest rates, and low country risk, the local market is already an attractive option for venture capital in Brazil. However, storm clouds gather ahead. Brazil was going through rough economic waters even before the Covid-crisis. We shan’t […]

Contxto – Funding may be tight within the current Covid-19 context, but some startups are still closing equity deals. This is fintech ADDI’s case. Yesterday (21), the loaning startup announced it received a capital injection for US$15 million in an investment round led by Quona Capital. Other contributors include Foundation Capital, S7 Ventures, as well […]

Contxto – Not even fintechs are immune to coronavirus (Covid-19). In recent weeks, three startups, Créditas, Neon, and C6 Bank from Brazil, as well as Kueski from Mexico announced layoffs. Interestingly, many of these startups claimed it was unrelated to Covid-19. But there are grounds to think otherwise… “It wasn’t Covid-19, I swear,” say fintechs […]

Contxto – You’ve probably heard of Quona Capital when we talked about the historic mark of US$57.5 million seed equity and debt round that Klar set back in November of last year. Additionally to leading this unprecedented round in Latin America, Quona Capital also participated in Contabilizei’s Series C, Kovi’s Series A, and Neon’s Series […]

Contxto – For Brazilian fintech Nubank, January 20, 2020 will be a date to remember. As that’s the day it announced a new milestone: it has 20 million customers. This number is divided between customers that have a NuConta (the startup’s digital bank account) under their name and people registered for its annuity-free credit card. […]