Brazil-based fintech Nova has raised USD 24 million in a Series A funding round led by US venture capital firm Canaan, according to its CEO, Rafael Matos, who disclosed the round in an interview. Nova lets consumers use their existing credit card limits to make instant payments and pay bills through Pix, Brazil's instant payment system.
Credit limits for Pix payments
Nova connects credit card limits to Pix, allowing consumers to pay expenses that are not always payable by card in Brazil, such as rent and tuition. According to Matos, the company aims to close that gap by combining consumers' existing credit lines with Pix, rather than replacing cards with another payment rail. Payments made through Nova reach recipients over Pix, while the amount is charged to the consumer's credit card.
Pix, launched by the Central Bank of Brazil in November 2020, serves more than 174 million users and accounted for more than half of retail payment transactions in Brazil in the first half of 2026. In June 2025, the central bank introduced Pix Automático, extending Pix to recurring bills and subscriptions, use cases traditionally served by cards and direct debits.
Pix expands into recurring and card-like uses
Pix Automático allows users to authorise recurring payments, such as utility bills, school fees, health plans, and subscriptions, with a single consent, after which payments are collected automatically. According to the Central Bank of Brazil, the feature is intended to help billers reduce collection costs and late payments. Offering Pix Automático to paying customers is mandatory for all Pix participants.
The Central Bank of Brazil has also set out further developments for Pix, including contactless Pix payments, international Pix, and closer integration with Open Finance. Nova's model adds credit to Pix from the consumer's side, allowing card holders to use their existing credit limits for payments that recipients receive as Pix transfers.
