The BBVA-backed Propel Venture Partners was among the investors in what the digital banking startup described as Brazil's largest ever series A round.
Brazil-based digital bank operator Neon has received $22m in a series A round that included Propel Venture Partners, the venture capital firm funded by financial services firm BBVA.
VC firms Monashees, Quona Capital and Yellow Ventures joined Tera and investment firm Omidyar Network as the round’s other participants. It represents the largest series A round ever closed by a Brazil-based company, Neon said in a statement.
Neon runs an app-based banking service with no physical branches that offers an account…
