Investors focus on payments issuers
Another major deal this quarter was the US$300m investment in Neon, a Brazil-based provider of virtual and automatic cards. The round was led by General Atlantic, alongside Banco Votorantim, Monashees, Omidyar Network, Propel, Quona and Mabi. The funding will be used to expand Neon’s product offering, including the development of credit modalities and investment alternatives to customers, as well as advertising and marketing campaigns, technology infrastructure, and expanding its talent base.
US-based FinTech Greenlight has built an all-in-one money management platform for families that aims to help parents arm their children with financial management skills. Its rapid growth since launching in 2017 helped it attract this quarter’s third biggest investment – US$215m – in a round led by Canapi Ventures, alongside TTV Capital, BOND, DST Global, Goodwater Capital, Fin VC and Relay Ventures. The funding lifts Greenlight’s valuation to US$1.2b and will help it expand its reach, improve the app and launch new investing tools.