Funding round
Neon Series D
Neon, which works in digital wallet app services in São Paulo, raised $300M in a Series D round announced on 19 May 2022, led by BBVA, at a $1.60B post-money valuation. 7 firms took part, 2 of them already investors. It is Neon's second venture round on record; the one before was a Series C in Sep 2020.
$300M
Amount raised
$1.60B
Post-money valuation
7
Investors
1 lead
19%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Neon at $1.60B after the new money. The $300M bought investors about 19% of the company. It came 20 months after Neon's Series C. It is 41% of the $729M Neon has raised in the venture rounds on record. Neon raised again 38 months later: a Series E round of $129M in Jul 2025.
Investors
Who put money in
BBVA led the round with 6 other firms. BBVA and Monashees had backed Neon before.
Lead investor
- BBVA existing investor
Also in the round
- BlackRock new investor
- General Atlantic backs 134 venture-backed companies new investor
- Monashees backs 73 venture-backed companies existing investor
- PayPal new investor
- backs 72 venture-backed companies new investor
- Vulcan Capital new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations, acquisitions and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Acquisitions
- Working capital
Comparable rounds
How it compares
14 Series D rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $225M, and this round was 1.3 times the median. The closest in time, other companies' Series D rounds in Payment Processing & Point of Sale:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Xendit Payment Processing & Point of Sale | 19 May 2022 | $300M | not disclosed | Coatue and Insight Partners |
| Payment Processing & Point of Sale | 10 May 2022 | $200M | $1.40B | KKR |
| Payment Processing & Point of Sale | 16 Jun 2022 | $2.0M | not disclosed | not named |
| Flutterwave Payment Processing & Point of Sale | 16 Feb 2022 | $250M | $3.00B | B Capital |
| Checkout.com Payment Processing & Point of Sale | 12 Jan 2022 | $1.00B | $40.00B | not named |
| Qonto Payment Processing & Point of Sale | 10 Jan 2022 | $550M | $5.00B | Tiger Global and Technology Crossover Ventures |
| Satispay Payment Processing & Point of Sale | 28 Sep 2022 | $307M | $960M | Addition |
| Bolt Payment Processing & Point of Sale | 13 Oct 2021 | $393M | $6.00B | not named |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Neon raise in its Series D round?
Neon raised $300M in its Series D round, announced in May 2022.
Who led Neon's Series D round?
BBVA led it, with BlackRock, General Atlantic, Monashees, PayPal and Quona Capital and 1 more.
What was Neon's valuation at the Series D round?
$1.60B post-money.
How does it compare with other Series D rounds in Payment Processing & Point of Sale?
14 Series D rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $225M, and this round was 1.3 times the median.
Did Neon raise again after this round?
Yes: a Series E round in Jul 2025 of $129M.