Marvin secures USD 15 mln Series A to unlock B2B payments in Brazil

Friday 27 May 2022 14:41 CET | News

Brazil-based fintech Marvin has received USD 15 million in Series A funding to to allow SMBs to pay suppliers using their own credit card receivables.

Marvin is a B2B payments platform that enables merchants to use credit card receivables as a financial asset with which to pay their suppliers, thus unlocking credit for merchants and increasing sales for suppliers. 

Paying in instalments is popular in Brazil, according to the press release. Adyen estimates that as much as 80% of ecommerce payments in Brazil are completed in instalments. Even if a customer pays in full upfront, 95% of domestically issued Brazilian Credit Card transactions are funded in D+30. As a result, it is common for merchants to sell their credit card receivables to acquirers as a means of managing their working capital cycles. This is a service known as anticipation of receivables.

By creating new digital rails for the flow of money, Marvin facilitates merchants and suppliers alike to sell more stuff, reach more customers, and start new franchises. Just like Stripe expanded the market of digital B2C payments globally, Marvin does much the same for B2B payments, company officials said.

More: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: instalment payments, B2B payments, credit card, merchant, SMEs
Categories: Payments & Commerce
Companies: Marvin
Countries: Brazil
This article is part of category

Payments & Commerce


Discover all the Company news on Marvin and other articles related to Marvin in The Paypers News, Reports, and insights on the payments and fintech industry:

Industry Events