Banking firm BBVA returned to reinvest in Neon, part of a group of digital banking portfolio companies it has built, increasing its stake to nearly 30%.

Financial services firm BBVA agreed on Monday to invest $300m in Brazil-based digital bank Neon in return for a 21.7% stake, a deal highlighting traditional banks’ interest in their emerging digital equivalents. Founded in 2016, Neon operates a digital banking platform with 15 million registered accounts and offers free checking accounts, credit and debit cards,…

The rest of this content is only accessible to Global Venturing Subscribers.

This content is only accessible to subscribers. If you are a subscriber, please sign in. Otherwise, if you would like to try before you buy and haven't previously taken out a free trial, you can do so below. You can also see details on subscriptions by clicking the Subscription Options button.