Brazil’s Monkey Exchange raises US$6mn in Series A funding
By Pavithra R
Brazil’s Monkey, offering an ecosystem that aims to make the receivables discount market more efficient, has announced securing US$6mn in Series A funding.
“Thank you for the support and confidence of our first investors Marcelo Maisonnave, Pedro Englert, Eduardo Glitz, João Carlos Zani, Wayra Brasil, Delano Macêdo, Roberto Dagnoni and Reinaldo Rabelo (now Gear Ventures ) and Fabio Dutra through Parallax Venturesin our early years of life. It was a difficult path like any new venture, but fun and very successful,” wrote Monkey Exchange on its social media.
The investment round was co-led by Quona Capital, Global fund, with experience in FinTechs, with investments such as Creditas, Neon and Contabilizei in Brazil and Kinea Investimentos, one of the largest Brazilian managers, with extensive experience in Private Equity, launching itself into the world of Venture Capital.
Founded in 2016 by Gustavo Muller and Bruno Oliveira, São Paulo based Monkey is an ecosystem that aims to make the receivables discount market more efficient, benefiting the supply chain of large corporations and expanding the credit market for SMEs in Brazil. The firm helps users by finding receivables from large companies within a trusted, clear and fully controlled environment. It puts together buyers, suppliers and sponsors in which buyers find the best receivables in the market, suppliers achieve the best sales conditions and sponsors strengthen their businesses and productive chain.
The platform works like an auction, in real-time, in a competitive process between buyers. New securities / receivables are added and traded daily. Monkey’s platform simplifies and expands access and credit offers
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