Brazilian neobank NG.Cash has secured regulatory approval to operate as a direct credit company after acquiring BizCapital’s licence, the firm said in a press release.
The Central Bank concluded the authorisation process this year, finalising a transaction that began in 2023. The entity is now formally registered as NG.Cash Sociedade de Crédito Direto S.A.
Launched in 2018 as Neagle Bank and renamed in 2021, NG.Cash focuses on Generation Z customers. Its platform provides a digital account, prepaid credit card, consortia for products such as phones, motorcycles and games, as well as insurance, fixed-income investments and financial education content.
The SCD licence allows NG.Cash to issue loans using its own balance sheet. The company said the move reinforces its credit strategy, which applies data, technology and artificial intelligence to tailor services to its customer base.
NG.Cash currently has more than 7mn users across Brazil and has raised over $56mn in funding. Earlier this year, the firm closed a Series B round to expand its lending portfolio.
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