Brazilian fintech Neon ended 2025 with gross revenue of R$3.5 billion, which represented a 55% growth compared to the previous year, and reduced its accounting loss from R$357 million to R$43 million — a drop of almost 90%. The last quarter ended in profit, confirming a trajectory that, in the middle of the year, was still more in the discourse than in the balance sheet.
At the end of September, when the InfoMoney then CTO of fintech, he used the metaphor of the teenager who “makes a little money, but still loses a little more than he earns”. At that same moment, the company launched a rebranding with the motto “Pra Você Viver no Azul” — and promised to operate in the blue with more consistency soon. The numbers for the full year show that the turnaround came from the promise and went into the balance sheet.
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The credit portfolio reached R$7.8 billion at the end of 2025, an increase of 33% over 2024. The credit card, already dominant in the portfolio, grew 30% and reached R$6.1 billion. Private payroll loans increased 48%. But personal loans were the line that surprised the most: growth of 172% in the annual comparison, with a relevant contribution to the positive result.
In the middle of the year, the portfolio was already at R$7 billion — with the card accounting for R$5.4 billion. The second half of the year accelerated this pace, indicating that the more selective credit strategy gained traction.
One piece of information that the company highlights as a sign of discipline is the provision expense, which remained stable in proportion to the growth of the portfolio in a period in which market default rates increased by more than 30%, according to the company.
The growth was accompanied by changes in senior management. Ana Luiza Franco Forattini, with experience at Inter and the Machado Meyer office, took charge of the legal, compliance and regulatory fronts. Ramon Martinez, who worked at Citi, BNP Paribas and Nubank, was appointed CRO (Chief Risk Officer). Fabiola Marchiori arrived as CTO, after stints at Algar Tech, Itaú and Nubank.
What still weighs
Despite the advances, Neon continues to face relevant challenges. The loss of R$43 million for the year — even with the positive fourth quarter — indicates that consistent profitability is not yet fully consolidated. The company raised R$5.3 billion in CDBs, which expands the funding base but also increases obligations.
In the competitive scenario, Pinheiro himself recognized in September that the lower brand penetration in relation to large incumbents is a real threat. Growing beyond the 32 million customer base — and converting more of them into active credit users — remains the central challenge for 2026.
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