NG.Cash, the “Brazilian Cash App” founded by a former YouTuber, has raised $15 million to expand credit and crypto services for Brazil’s young, unbanked population.
Founded in 2021, NG.Cash grew from a teenager’s popular YouTube channel and now serves over 10 million users, more than 80% of whom had never held a bank account before.
Blockchain Capital led the latest 65 million from backers including a16z, Revolut CEO Nikolay Storonsky’s Quantum Light, and Ualá founder Pierpaolo Barbieri’s 17Sigma.
With two Central Bank of Brazil licenses — a direct credit society license and a payment institution license — NG.Cash offers products including Crédito CLT and Pix Crédito. Users can buy, sell, and hold Bitcoin and Ether, with plans to add transfers, stablecoin accounts, and trading in up to 20 additional tokens by year-end.
CEO Mario Augusto Sá said: “Millions of young Brazilians have grown up without a financial platform built for the way they actually live and bank. Blockchain Capital’s investment confirms NG.Cash is becoming that platform.”