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Brazil is leading the digital banking revolution in Latin America

September 14, 2020
Por
Eduardo Fuentes
Eduardo Fuentes
Venture Capitalist | Data Miner @ Distrito
📷
tripsavvy.com
In recent years, the digital banking market has concentrated most of the investment volume received by fintechs in Brazil.
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INVESTMENT VOLUME RECEIVED BY DIGITAL BANKS (IN MILLIONS OF DOLLARS)

In the past few weeks, two digital banks have had investment rounds disclosed (or discoveries, in the case of Nubank). The announcements were responsible for further shaking the Digital Banking market in Brazil.

In June of this year, Nubank registered with the Securities and Exchange Commission - a US correspondent for our CVM - a raise of US $ 300 million reais. This was the 08 round received by the company. Taken together, all of these rounds represent more than $ 1 billion in capital received.

  • Seed - US $ 2 million - Jul / 13
  • Series A - $ 14.3 million - Sep / 14
  • Series B - US $ 30 million - Jun / 15
  • Series C - US $ 52 million - Jan / 16
  • Series D - US $ 80 million - Dec / 16
  • Series E - US $ 150 million - Mar / 18
  • Series F - $ 300 million - Jul / 19
  • Series G - US $ 400 million - Jun / 20

Although funding was not widely disclosed by Nubank, we believe that a large part of the funds should be invested in new acquisitions and to make operations more profitable, already imagining the possibility of an IPO in the future.

Nubank recently reported a loss of R $ 95 million in the first half of 2020. The result was 32% better than that recorded in the first half of 2019.
The company has been negotiating the purchase of broker EasyInvest, as a way to expand the offer of products within the bank.

Neon was the second digital bank that moved in the period and has everything to become a unicorn in the next round of funding.

Fintech announced yesterday that it has completed a fundraising of 1.6 billion reais (about US $ 300 million) in a Series C round led by General Atlantic and which also included the participation of investors such as: BlackRock, PayPal Ventures, Vulcan Capital and Endeavor Catalyst. In addition to investors from previous rounds like Monashees and Flourish Ventures.

Altogether Neon has already received 05 contributions and more than US $ 425 million in investment.

  • Pre-Seed - US $ 850 million - Dec / 14
  • Seed - US $ 3.5 million - Dec / 15
  • Series A - $ 22 million - May / 18
  • Series B - $ 100 million - Nov / 19
  • Series C - $ 300 million - Sep / 20

Neon is going to attack on different fronts: acquisitions, product launches, increased credit supply and hiring talent.

In July this year, Neon announced the purchase of Magliano Invest, the first broker in the Brazilian market.

Las opiniones compartidas y expresadas por los analistas son libres e independientes, y de ellas son responsables sus autores. No reflejan ni comprometen el pensamiento u opinión de Latam Fintech Hub, por lo cual no pueden ser interpretadas como recomendaciones emitidas por la platafomra. Esta plataforma es un espacio abierto para promover la diversidad de puntos de vista sobre el ecosistema Fintech.
INVESTMENT VOLUME RECEIVED BY DIGITAL BANKS (IN MILLIONS OF DOLLARS)

In the past few weeks, two digital banks have had investment rounds disclosed (or discoveries, in the case of Nubank). The announcements were responsible for further shaking the Digital Banking market in Brazil.

In June of this year, Nubank registered with the Securities and Exchange Commission - a US correspondent for our CVM - a raise of US $ 300 million reais. This was the 08 round received by the company. Taken together, all of these rounds represent more than $ 1 billion in capital received.

  • Seed - US $ 2 million - Jul / 13
  • Series A - $ 14.3 million - Sep / 14
  • Series B - US $ 30 million - Jun / 15
  • Series C - US $ 52 million - Jan / 16
  • Series D - US $ 80 million - Dec / 16
  • Series E - US $ 150 million - Mar / 18
  • Series F - $ 300 million - Jul / 19
  • Series G - US $ 400 million - Jun / 20

Although funding was not widely disclosed by Nubank, we believe that a large part of the funds should be invested in new acquisitions and to make operations more profitable, already imagining the possibility of an IPO in the future.

Nubank recently reported a loss of R $ 95 million in the first half of 2020. The result was 32% better than that recorded in the first half of 2019.
The company has been negotiating the purchase of broker EasyInvest, as a way to expand the offer of products within the bank.

Neon was the second digital bank that moved in the period and has everything to become a unicorn in the next round of funding.

Fintech announced yesterday that it has completed a fundraising of 1.6 billion reais (about US $ 300 million) in a Series C round led by General Atlantic and which also included the participation of investors such as: BlackRock, PayPal Ventures, Vulcan Capital and Endeavor Catalyst. In addition to investors from previous rounds like Monashees and Flourish Ventures.

Altogether Neon has already received 05 contributions and more than US $ 425 million in investment.

  • Pre-Seed - US $ 850 million - Dec / 14
  • Seed - US $ 3.5 million - Dec / 15
  • Series A - $ 22 million - May / 18
  • Series B - $ 100 million - Nov / 19
  • Series C - $ 300 million - Sep / 20

Neon is going to attack on different fronts: acquisitions, product launches, increased credit supply and hiring talent.

In July this year, Neon announced the purchase of Magliano Invest, the first broker in the Brazilian market.

Las opiniones compartidas y expresadas por los analistas son libres e independientes, y solamente sus autores son responsables de ellas. No reflejan ni comprometen el pensamiento o la opinión del equipo de Latam Fintech Hub y, por lo tanto, no pueden interpretarse como recomendaciones emitidas por la plataforma. Esta plataforma es un espacio abierto para promover la diversidad de puntos de vista en el ecosistema Fintech.

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