INFOGRAPHIC: Top LATAM Startup Funding — Week 37
These are the funding deals we tracked in the LatAm region this week including Neon, Cobre, Gringo, Altscore and Arvo
- Brazilian fintech unicorn, Neon, banks $102M in Series E Round to fuel growth
- Colombian fintech, Cobre, secures $35M Series B funding to fuel commercial efforts
- Brazilian automobile app, Gringo, secures $12.4M Series C Extension to expand operations
- Ecuadorian fintech, Altscore, raises $8.5M Series A to accelerate growth
- Brazilian health tech company, Arvo, banks $4.5M to combat payment fraud
Brazilian Fintech Unicorn, Neon, Banks $102M in Series E Round to Fuel Growth
Brazilian fintech unicorn Neon has secured a $102 million Series E funding round from its existing investors. The funding was divided into two tranches: $64 million in December 2023 and $38 million in August 2024.
This brings the total funding raised by the company to over $1 billion.
Founded in 2016, the privately owned fintech company that offers purely digital financial services. According to them, their digital accounts provide a range of benefits, including being free of maintenance and annual fees while being very transparent.
The company plans to use the funding to foster advancements in its app development. This app will be able to host most of its services, allowing for easier access and operations between it and over 30 million Brazilian users.
