Neon , a Brazil-based fintech and digital bank, has raised USD 80 million in its first Credit Rights Investment Fund (FIDC) focused on credit cards. This investment increases the total fund to USD 170 million in equity, and it is expected to nearly double.

The FIDC resources will help Neon to continue expanding their portfolio in a sustainable and balanced way in the med-long term. The focus continues to be on the Brazilian worker, while the mission remains to reduce inequalities by building paths to credit. This is the second fundraising made by Neon in the private credit market in 2022, given that it had already raised just over USD 40 million for its private payroll deductible FIDC at the beginning of 2022.

The management of the FIDC focused on credit cards was attributed to Empírica, an asset management with 12+ years of experience in the market, focused on structured credit and a portfolio of 50+ funds and over USD 1. 5 billion in assets under custodial. Neon believes it can create a conscious path to credit with solutions and innovations that can help the customer to obtain credit in a simple and fair way.

Neon recently launched the elastic limit, which makes it possible to expand credit for one-off purchases, based on credit assessment. Additionally, the company already offers personal loans, payroll loans and credit cards without annuity with special conditions. Neon plans to launch new solutions that will help its customers to consciously access credit throughout the rest of the year.

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