BBVA to invest $300 million in Brazilian digital bank Neon | BBVA

▤ Summary

Neon represents a new step in BBVA’s strategy to enter new markets through investments in digital platforms. Brazil is a very attractive market given the size of its economy (8º in the world and 1º in Latin America), its large population (more than 210 million people) and the development of interesting propositions in the digital financial services arena. Neon was founded in 2016, aiming to offer a simple, and competitive alternative compared to the traditional Brazilian banks. Since its creation in 2016 and prior to BBVA’s investment, Neon had raised $423 million from investors through several financing rounds. “BBVA’s investment and global expertise will allow Neon to offer loans in a more simple, sustainable and inclusive way.

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