Neon raised $80 million for its First Credit Rights Investment Fund (FIDC) that is focusing on credit cards. The total fund stands at $170 million in equity, which is expected to increase.

Jamil Marques, the CFO of Neon remarked the following on the investment fund: "The funding endorses the strength and positive history that we have been building in the management of the credit portfolio over the last few years.

"Today our credit engine is mature, and the FIDC resources will give us the strength to continue expanding our portfolio in a sustainable and balanced way in the med-long term.

"The focus continues to be on the Brazilian worker, and always with the mission to reduce inequalities by building paths to credit."

It is Neon's second fundraising. Earlier in 2022, it raised $40 million for private payroll deductible FIDC. The FIDC is managed by Empírica, an asset management firm with assets that are currently worth over $1.5 billion.

Neon is striving to innovate the credit system as it is today. Elastic limit was recently launched by the firm, allowing customers to increase credit for one-off transactions based on a credit assessment.

FIDC Will Offer Greater Flexibility

Loans and credit cards are already issued by Neon without special conditions. Neon is working on new solutions that will offer customers access to credit throughout the year.

At the end of 2021, Neon's credit portfolio stood at $270 billion. The FIDC is expected to bring more flexibility to the company's growth plans. Neon has over 15 million clients at the time of writing.

Neon ended 2021 with a total credit portfolio of US$ 270 billion and the idea is that the FIDC will bring greater flexibility to its growth strategy. The fintech firm expects to maintain a sustainable expansion of its credit portfolio, which should more than double by the end of 2022. Neon currently has more than 15 million customers.

Giuliano Longo, the Managing Partner of Business Expansion at Empírica said: "We are excited about this partnership that began in the first months of the year as a one-off investment in another Neon FIDC, focused on private payroll loans.

"Based on this good experience, we expanded our relationship to take over the management of the credit card fund. The intention is to bring more comfort and security to investors, including ourselves who, via funds of funds managed by us, contributed a total of $20 million US to FIDC Neon.

"This shows an alignment of interests with the other investors in this fund."

Neon raised $80 million for its First Credit Rights Investment Fund (FIDC) that is focusing on credit cards. The total fund stands at $170 million in equity, which is expected to increase.

Jamil Marques, the CFO of Neon remarked the following on the investment fund: "The funding endorses the strength and positive history that we have been building in the management of the credit portfolio over the last few years.

"Today our credit engine is mature, and the FIDC resources will give us the strength to continue expanding our portfolio in a sustainable and balanced way in the med-long term.

"The focus continues to be on the Brazilian worker, and always with the mission to reduce inequalities by building paths to credit."

It is Neon's second fundraising. Earlier in 2022, it raised $40 million for private payroll deductible FIDC. The FIDC is managed by Empírica, an asset management firm with assets that are currently worth over $1.5 billion.

Neon is striving to innovate the credit system as it is today. Elastic limit was recently launched by the firm, allowing customers to increase credit for one-off transactions based on a credit assessment.

FIDC Will Offer Greater Flexibility

Loans and credit cards are already issued by Neon without special conditions. Neon is working on new solutions that will offer customers access to credit throughout the year.

At the end of 2021, Neon's credit portfolio stood at $270 billion. The FIDC is expected to bring more flexibility to the company's growth plans. Neon has over 15 million clients at the time of writing.

Neon ended 2021 with a total credit portfolio of US$ 270 billion and the idea is that the FIDC will bring greater flexibility to its growth strategy. The fintech firm expects to maintain a sustainable expansion of its credit portfolio, which should more than double by the end of 2022. Neon currently has more than 15 million customers.

Giuliano Longo, the Managing Partner of Business Expansion at Empírica said: "We are excited about this partnership that began in the first months of the year as a one-off investment in another Neon FIDC, focused on private payroll loans.

"Based on this good experience, we expanded our relationship to take over the management of the credit card fund. The intention is to bring more comfort and security to investors, including ourselves who, via funds of funds managed by us, contributed a total of $20 million US to FIDC Neon.

"This shows an alignment of interests with the other investors in this fund."