NG.CASH Closes $26.5M Backed by FinTech Elite
Hey FinTech Fanatic!
NG.CASH just bagged $26.5 million in Series B funding. The round was led by NEA, with participation from Quantum Light, the fund launched by Revolut’s CEO Nik Storonsky, a16z, 17Sigma from Ualá’s Pierpaolo Barbieri, and others.
Built for Brazil’s Gen Z, the FinTech has +3 million users and offers payments, prepaid cards, insurance, AI tools, and more.
“This raise is the result of years of dedication and rapid growth. It’s a milestone for our entire team, and allows us to continue scaling and delivering more value to our customers,” said Mario Augusto Sá, CEO of NG.CASH.
Do you know what’s coming next? It involves blockchain (and more). 👀
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FINTECH NEWS
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🇨🇳 Standard Chartered to launch digital platform aimed at tech-savvy and young investors. The platform would enable investors to conduct investment research and trade a range of products, including stocks, funds, and other alternative assets. Read more
🇺🇸 Push to add ‘Buy Now, Pay Later’ loans to credit scores hits a snag. Klarna, one of the biggest providers of popular loans, said it wouldn’t share data about the bulk of its loans with credit bureaus until it gets assurances that its customers won’t be unfairly penalized for using its payment options.
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PAYMENTS NEWS
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🇳🇱 Airwallex sees significant growth in the Netherlands, with revenue up 199%, plus new customers and team expansion. Airwallex’s growth in the market is a testament to impressive client wins, nearly tripling its customer base in the same period.
🇨🇴 Is Colombia ready to go cashless? Bre-B could change everything. This new system, promoted by the Bank of the Republic and with the technological support of ACI Worldwide, promises to modernize the country's financial ecosystem, moving away from its dependence on cash.
🇺🇸 Mastercard denies censorship allegations, and Valve says they are to blame. In a new statement, the major payment processor clarified that it was only acting under local law and not at its discretion. This excuse aligns with the government bodies pushing towards digital ID globally.
🇺🇸 Remitly harnesses the power of stablecoins for cross-border payments. Remitly is introducing the Remitly Wallet, a secure, multi-currency store of value for both fiat currencies and stablecoins. The wallet provides a safe and flexible way to hold and use funds across borders within a centralized, trusted environment.
🇿🇦 Paymentology launches PayoCard to expand mobile-first access to card services across South Africa. PayoCard simplifies that process with a plug-and-play platform that allows issuers to rapidly offer secure, self-managed card features, from real-time balance updates to PIN resets, card freezes, and in-app support, all via a single mobile interface.
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OPEN BANKING NEWS
🇬🇧 PayPoint launches open banking payments into the housing sector with Thirteen Group. This trailblazing move marks a significant leap forward in how Thirteen customers manage and pay their rent, adding a new way to pay that is faster, safer, and more convenient than traditional card payments.
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DIGITAL BANKING NEWS
🇦🇺 FinTech Anna Money launches virtual office alternative to the Sydney Startup Hub. CEO Ryan Edwards-Pritchard said the solution offers affordable “prime real estate” and streamlined compliance for founders looking to grow without the cost and complexity of traditional office space.
🇩🇪 Vivid expands its travel management tool with in-app flight booking for SMEs. Business owners and teams can now organise their entire business trip, including flights, hotels, and coworking spaces, directly within the Vivid app, alongside managing their financial operations.
🇳🇱 Revolut payment cards linked to large-scale train fraud in the Netherlands. According to the online bank, the root cause of the issue, the checkout process, should be addressed, not the payment providers themselves. Keep reading
🇮🇳 Tide empowers SMEs to earn more with the launch of Fixed Deposits on its platform. Tide has introduced Fixed Deposits (FDs) on its platform, enabling SMEs to earn up to 8.84% interest per annum. This offering allows businesses to invest idle capital with tenures from 7 days to 60 months, starting at just ₹1,000.
BLOCKCHAIN/CRYPTO NEWS
🇺🇸 Coinbase pushes Zero-Knowledge Proofs as solution to ‘arcane’ BSA. ZKPs allow users to verify specific details, like identity or age, without disclosing sensitive underlying data, a move that could enhance not just privacy but also security. Additionally, Coinbase plans $2b dual-tranche note sale to fund buybacks, acquisitions. The company said it will use the net proceeds of the offering to cover the costs of the capped call transactions related to the note offering and for general corporate purposes.
🇺🇸 Coinbase and PayPal press forward with stablecoin rewards despite GENIUS prohibitions. Coinbase and PayPal promised shareholders that both companies will remain committed to offering enticing “rewards programs” to stablecoin holders. Read more
🇦🇹 Bitpanda eyes market expansion as it hits record profitability. According to a press release, the Vienna-based crypto platform reported $426 million in operating revenue for 2024, up from the $163 million recorded the year prior. The company said the figure marks a milestone in profitability and scalability.
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PARTNERSHIPS
🇸🇦 ACI Worldwide and iNet extend partnership to bolster FinTech growth in Saudi Arabia. Under this partnership, iNet will deploy and manage a Point of Sale (POS) infrastructure using ACI Postilion to deliver fast and seamless omnichannel transaction processing while staying compliant with evolving regulatory standards.
🇧🇷 GOL Linhas Aéreas expands payment choices for passengers in partnership with CellPoint Digital. CellPoint Digital has fast-tracked the deployment of these payment methods to help GOL further improve passenger experience by offering a wide range of payment methods that its customers use domestically and internationally.
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DONEDEAL FUNDING NEWS
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🇧🇷 NEA-Backed NG.CASH announces the close of $26.5m Series B. The Brazilian financial technology company plans to use capital to expand its product offerings and support continued user growth. Read more
🇺🇸 Grasshopper raises $46.6 million in funding and appoints new board members to fuel next phase of growth. This investment supported Grasshopper Bank’s merger with Auto Club Trust and will fuel the continued expansion of its award-winning digital platform, enhancing its suite of banking solutions for businesses.
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M&A
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MOVERS AND SHAKERS
🇬🇧 Seccl appoints Jonathan Dees as its new UK CEO, as David Ferguson transitions to Executive Chair. Jonathan has been acting as interim MD at Seccl since June, supporting the business in its day-to-day management while David moves to focus on the business’s longer-term strategic opportunities and planned European expansion.
🇦🇪 Equiti appoints Sean Hong as the New Group CFO. Before beginning his tenure at Equiti, Hong was the Chief Financial Officer at the Australian unit of Plus500. He spent more than three years at the Sydney offices of the Israeli broker. Read more
🇨🇭 John Schlesinger departs Temenos after 14 years as Chief Enterprise Architect. Schlesinger began his career as a development programmer at IBM in 1977 and joined Temenos in 2011, where he notes on LinkedIn he has been "responsible for the non-functional capabilities of the products and their suitability for all banks".
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