NG CASH Secures $15M Funding Boost for Credit, Crypto Expansion in Brazil
NG CASH, a Brazilian fintech that started as a YouTube channel, has secured $15 million in funding led by Blockchain Capital to expand its credit and crypto services in Brazil. The company's total funding now exceeds $65 million since its launch in 2021.
The funds will be used to scale NG CASH's consumer credit products and lay the groundwork for digital asset services in Latin America's largest economy. NG CASH has already processed billions of dollars in transactions, although the exact figure remains undisclosed.
The company has set an ambitious target: BRL 1 billion, or nearly $200 million, in credit originations by 2027. To achieve this goal, NG CASH will focus on expanding its credit tools, including Crédito CLT and Pix Crédito.
Blockchain Capital's involvement is significant, as it indicates NG CASH's commitment to offering regulated crypto services to its user base. The company already holds two regulatory licenses from the central bank: one as a payment institution and another as a direct credit society.