Fintech Mercado de Recebíveis Valued at $14M in First Funding Round

Mercado de Recebíveis, a newly established fintech company, recently concluded its inaugural investment round, achieving a valuation of $14 million. The round was spearheaded by Urca Angels and included notable participants like Inês Corrêa Souza of Magalu’s board and Letsbank’s executive director Marcelo Bella.

Founded earlier this year, the company focuses on providing fluid, flexible financial experiences at Point of Sale (POS) systems, utilizing invoice duplicates and credit cards. It currently serves four major clients, encompassing around 200,000 suppliers and POS. The company aims to expand to 10,000 POS by the end of 2024.

According to CEO Henrique Echenique, the funds will enhance product development, invest in technology, and expand the team. The fintech anticipates leveraging recent regulatory changes by the Central Bank, potentially transforming the duplicated invoice market and offering businesses more advantageous financial options.