Neon is a Payment Institution authorized by the Central Bank of Brazil, which operates in the modalities of issuing electronic money and issuing post-paid instruments.
Neon's mission is to unite technology and design to redesign and simplify people's financial experience.
Neon was founded in 2016 by Pedro Conrade. The company is headquartered in São Paulo, Brazil.
Neon launched with a simple digital account and has since expanded its product suite to include investment products, credit cards, and personal loans, among other new offerings and features.
Neon has expanded its initial focus on consumer clients to also serve small businesses, accelerated by its acquisition of MEI Fácil in 2019. In July 2020, Neon acquired one of Brazil’s first brokerage platforms, Magliano Invest, in order to offer new investment products.
Neon boasts 15 million registered accounts making it one of several fintech giants - alongside the likes of Nubank, Ebanx, C6 and Creditas - to blossom in Latin America's biggest market.
Neon is backed by General Atlantic, BBVA, BlackRock, Vulcan Capital, PayPal Ventures, Endeavor Catalyst, Omydiar Network, Monashees, Flourish Ventures, Propel Venture Partners, and others. The company raised $300M in a new round on Feb 14, 2022. This brings Neon's total funding to $719.5M to date. The latest investment valued the company at a $1.4B post-money.