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Clifford Chance advises on Brazilian fintech Neon Pagamentos' US$161 million funding round

September 4, 2020

Clifford Chance advises on Brazilian fintech Neon Pagamentos' US$161 million funding round

São Paulo: Leading international law firm Clifford Chance has advised Neon Pagamentos (Neon), a Brazilian fintech on its third funding round, raising US$161,163,380.

Neon was founded in 2016 and is the first Brazilian fintech to offer 100% digital accounts. The fintech recently acquired São Paulo’s oldest stockbroker, Magliano.

A number of existing investors, including General Atlantic, Monashees, Flourish Ventures, Propel, Quona and Banco Votorantim returned for this round of funding, joined by a number of new investors including BlackRock funds, PayPal, Vulcan Capital and Endeavor Catalyst. Neon raised US$22 million in May 2018 in a Series A round, and US$95 million in Series B last year.

Partner Anthony Oldfield led the matter, supported by senior lawyer Jeffrey Susskind and trainee solicitor Kirsty McKinty.