NG.Cash raises $15 million for credit and crypto in Brazil

Finextra's October 2 headline sells NG.Cash as a former YouTuber's "Brazilian Cash App." The cheque, and the licence line on the company's own site, describe a narrower firm. Having tracked Brazilian challengers, the question is which licence this money extends. NG.Cash, the São Paulo payments app, said on September 23 that Blockchain Capital had led a $15 million round.

The company release, timestamped September 23, 2026, 09:04 ET, put funding since a 2021 founding at over $65 million. Finextra's October 2, 2026 report used the same $15 million and said the total now stands at $65 million, naming a16z, Revolut chief executive Nikolay Storonsky's Quantum Light, and Ualá founder Pierpaolo Barbieri's 17Sigma. FinTech Global, on September 24, also said more than $65 million. "Over $65 million" and "$65 million" should not be smoothed into one number.

The origin is told two ways. The release says NG.Cash began in 2021 off a YouTube channel with 10 million subscribers, since grown to 20 million, serving more than 10 million users. Finextra called the founder a former YouTuber and wrote that more than 80% had never held a bank account. That 80% is Finextra's, not the release's. The release says users are middle- and lower-income, and that NG.Cash is often the family's first account. Finsiders Brasil adds a third clock: founded in 2018 as Neagle Bank, renamed in mid-2021, and in February 2025 it absorbed rival Z1, which shut.

"Millions of young Brazilians have grown up without a financial platform built for the way they actually live and bank," said Mario Augusto Sá, chief executive and co-founder of NG.Cash. "Blockchain Capital's investment confirms NG.Cash is becoming that platform, the company building what comes next as money itself evolves in Brazil."

Two licences on paper, a correspondent in the footer

Finextra said a direct credit society licence and a payment institution licence from the Central Bank of Brazil let NG.Cash offer Crédito CLT and Pix Crédito. Finsiders, citing its own earlier reporting, said the central bank approved a purchase of BizCapital's direct credit society a year before this round, and that the payment-institution authorisation has been in place since 2025. Its company note says credit sped up in 2026: Pix Crédito ties a loan to an instant payment, and Crédito CLT is private payroll credit. The release targets BRL 1 billion (nearly $200 million) originated by 2027, with billions of dollars already moved on the platform.

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The homepage is stricter. NG.Cash's site names NG CASH INSTITUIÇÃO DE PAGAMENTO LTDA, CNPJ 40.710.595/0001-93, as a payment institution authorised to issue electronic money. For bills and some credit it says it is banking correspondent to Banco BTG Pactual and QI Sociedade de Crédito Direto, under National Monetary Council Resolution 4.935 of July 29, 2021. A correspondent mandate is not the same fact as an owned direct-credit licence in the app entity. None of the pages opened here quotes Nubank, BTG Pactual, QI or the central bank on the round.

Nubank's purchase of Banco Porto Real was about keeping the word "bank." NG.Cash is not buying a commercial-bank charter in this round. It is pushing a payments account into payroll credit and, on another file, into tokens. Pix is the rail under Pix Crédito.

Crypto is a file, not a homepage

The release says a Virtual Asset Service Provider (VASP) application is in process and positions NG.Cash to become an early mover on stablecoins in Brazil. Finextra went further: users can already buy, sell and hold Bitcoin and Ether, with plans for transfers, stablecoin accounts and up to 20 more tokens by year-end. The open homepage markets Pix, a prepaid Mastercard, a savings pot and WhatsApp payments, and it does not describe token trading.

Brazil's 24-hour crypto deposit hold bites when funds arrive, not when they leave. No page opened here dates VASP approval. That gap is the underwriting point.

"We've spent years looking outside the U.S. for the next generation of category-defining fintech companies," said Kinjal Shah, general partner at Blockchain Capital. "Brazil is exactly the kind of market we believe will produce them."

The release states no valuation. Finsiders said the cheque is for regulated digital assets and stablecoins, and for more credit, and only the credit products are described as already live. $15 million does not fund a BRL 1 billion book. If the VASP file slips, Finextra's extra-token list is what moves. Pix and Crédito CLT do not depend on that file.

Finsiders reported hopes of other Latin American countries, but the English release names no second market. The domestic test is whether correspondent credit and a pending virtual-asset permission can share one app. Decade's Brazilian wealth-advice raise is a later product for the same customer. NG.Cash is still funding the first account. On the fintech desk, that order is the story.