PayPal Ventures and the BBVA-backed Propel Venture Partners are contributing to a two-tranche round that will lift the online bank's total funding to $414m.
Brazil-based digital bank Neon Pagamentos agreed $300m in series C funding today from investors including online payment processor PayPal and Propel Venture Partners, the venture capital firm funded by banking group BBVA.
Growth equity firm General Atlantic is leading the round, which also features Vulcan Capital, Endeavor Catalyst, Monashees, Flourish Ventures and funds and accounts managed by BlackRock, while PayPal is investing through corporate VC unit PayPal Ventures.
The capital will be provided for the company through two equally sized…
