Foley & Lardner LLP represented New Enterprise Associates (NEA) as the lead investor in the $26.5 million Series B funding round for Brazilian fintech startup NG.CASH. NEA was joined by additional investors Quantum Light, Monashees, a16z, Endeavor Catalyst, 17Sigma, and Daphni.
With over 7 million users in Brazil, NG.CASH is a fintech company that provides a digital wallet app and financial services specifically designed for Generations Z and Alpha. In addition to financial education and empowerment, users have access to features including a prepaid credit card, allowance management, savings and investments, and transfers and payments. NG.CASH plans to use the funding to expand the development of AI-powered financial products, credit offerings, and the continued growth of their user base.