BBVA to invest $300 million in Brazilian digital bank Neon
BBVA has reached an agreement to invest $300 million (about €263 million¹) in Neon, a Brazilian digital bank founded in 2016 that aims to improve access to financial services for individuals, self-employed and small businesses in its country.
Neon has 15 million registered accounts. The investment takes place in a context of unprecedented technological disruption, with solid growth of digital and innovative models, particularly in financial services.
In addition to a clear commitment to innovation, this investment allows BBVA to gain exposure to retail banking in Brazil, a market with one of the highest potential in the world.