KASZEK led a USD10m Series A for Z1, a Brazilian digital bank for teenagers, with follow-on from MAYA Capital, Homebrew, Clocktower Technology Ventures and The Chainsmokers. Homebrew led a ~USD2.8m seed round in June.

(TechCrunch) – Z1, a Brazilian neobank focused on offering digital accounts and a linked prepaid card to teenagers and young adults, secured $10 million in Series A funding just six months after taking in $2.5 million.

Co-founded in 2019 by João Pedro Thompson, Thiago Achatz, Mateus Craveiro and Sophie Secaf, Z1 developed a digital bank app aimed at helping Brazilian and Latin American teenagers become more financially independent.

Since the last raise in April, the company’s revenue grew 26 times and continues to do so at almost 40% per month, CEO Thompson said via email. Z1 also grew its customer base by eight times during the same time at a rate of 30% per month.

Read more at TechCrunch.