Brazilian digital financial institution Neon has raised $80 million for its first Credit score Rights Funding Fund (FIDC) centered on bank cards.
The lender ended 2021 with a complete credit score portfolio of $270 billion and the concept is that the FIDC will convey higher flexibility to its development technique.
Jamil Marques, CFO, Neon, says: “At present our credit score engine is mature and the FIDC assets will give us the power to proceed increasing our portfolio in a sustainable and balanced means within the med-long time period.
“The main focus continues to be on the Brazilian employee, and at all times with the mission to scale back inequalities by constructing paths to credit score.”
That is the second fundraising Neon has carried out within the personal credit score market this yr, following a $40 million elevate for a non-public payroll deductible FIDC.