Brazil-based NG.CASH Announces $10M Seed Led By a16z and monashees
Gunderson Dettmer represented client NG.CASH, a Brazil-based fintech company, in the announcement of its $10 million Series Seed financing co-led by Andreessen Horowitz and monashees. NG.CASH allows customers to open a free digital wallet that receives a scheduled monthly allowance to help the new generation become financially independent. The company will use its new capital to add new features to its platform and scale its team of collaborators.
In the announcement of the transaction, CEO and founder of NG.CASH Mario Augusto said, “This large investment is a reflection of what we have done so far. We started in February 2021, with a pre-seed of $400,000, and with that, we were able to build a product that competes with big names. Even with this high competitiveness in the market, we achieved good results with little money so far.”
The Gunderson Dettmer deal team was led by Christel Moreno and included Eduarda Tavares and Francisco Mont’Alverne.