Blockchain Capital Leads $15M Strategic Round in Brazilian Gen Z Neobank NG.CASH
Blockchain Capital Leads $15M Strategic Round in Brazilian Gen Z Neobank NG.CASH #
NG.CASH, a Brazilian neobank aimed at Gen Z users, has closed a $15 million strategic investment round led by Blockchain Capital, bringing its total funding to more than $65 million. The company plans to use the capital to expand its credit book and enter regulated cryptocurrency services.
The company grew out of Neagle, a personal-finance YouTube channel founded by Mario Augusto Sá, then a computer-engineering student at PUC-Rio, and his entrepreneurship professor Luis Felipe Carvalho. When Neagle launched as a digital bank in August 2020, the channel already had 10 million subscribers; it has since grown to 20 million. The company rebranded to NG.CASH in 2021 and now claims more than 10 million active users, many of whom are opening their first bank account.
NG.CASH targets Brazil’s middle- and lower-income Gen Z population. Its two flagship credit products, Crédito CLT and Pix Crédito, are built on Pix, Brazil’s instant-payment rail, and extend financing to borrowers who have had limited access to formal credit markets. The company aims to originate close to $200 million in loans by 2027.
NG.CASH holds two Central Bank of Brazil licences: one as a direct credit society and one as a payment institution. It has also applied for a Virtual Asset Service Provider (VASP) licence that would bring its cryptocurrency custody, exchange, and intermediation activities under formal supervision. Blockchain Capital General Partner Kinjal Shah cited the search for “the next generation of fintech outside the US” as the firm’s motivation for backing NG.CASH.
Pix has seen rapid adoption across Brazil, and NG.CASH says billions of dollars have already moved through its platform. With the new capital and its pending VASP licence, the company plans to expand across credit and digital assets.
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