NG.CASH, a Brazilian fintech for young people, has raised a $15 million strategic investment led by Blockchain Capital. The company was founded in 2021 and has now raised more than $65 million.
NG.CASH has more than 10 million accounts, mostly young Brazilians from middle- and lower-income families. For many of them, NG.CASH is the first bank account anyone in their family has had. The app grew out of the creator economy and speaks to that generation in its own language.
Credit is the next step
The new money goes mostly into lending. NG.CASH offers Crédito CLT, which is tied to formal employment, and Pix Crédito, which lets users pay through Brazil’s Pix instant payment system on credit. It aims to originate BRL 1 billion in credit, about $200 million, by 2027.
The company already holds two licenses from Brazil’s central bank. It has also applied for a virtual asset service provider license, which explains Blockchain Capital’s interest. Brazil is one of the world’s biggest crypto markets, and Pix has shown how fast Brazilians adopt new ways to pay.
“Blockchain Capital’s investment confirms NG.CASH is becoming that platform,” says CEO and co-founder Mario Augusto Sá, “the company building what comes next as money itself evolves in Brazil.” Kinjal Shah, general partner at Blockchain Capital, also commented on the deal.
Billions of dollars have already moved through the platform. With 10 million young users, NG.CASH is well placed to grow along with them.