Nova raises $24M to link credit cards to Brazil's Pix network
What's the deal? Nova, a Brazilian fintech that lets consumers use existing credit cards for instant payments and bills, raised $24 million in a Series A led by Canaan, chief executive officer Rafael Matos told Axios Pro.
What's the endgame? Nova connects credit card limits to Pix, Brazil's instant-payment network. Big expenses such as rent and tuition aren't always payable by card in Brazil; Nova aims to close that gap.
Why now? Pix has become a major competitor to cards, accounting for more than half of retail payment transactions in the first half of 2026. Pix Automático, launched in 2025, extended the network into recurring bills and subscriptions — use cases cards traditionally served.
The signal: Nova is betting on combining existing credit limits with Pix rather than replacing cards with another rail. Its success will depend on whether consumers value that flexibility and whether the model works at scale.
Read more: Axios
Image credit: Generated with Gemini
