Monkey
“Can a neutral marketplace disintermediate Brazil's concentrated receivables-finance market by making 100+ banks compete in real-time reverse auctions?”
Founded2016
HQSão Paulo, Brazil
FoundersGustavo Müller, Bruno Oliveira, Felipe Adorno
Total raised~$18M+ (disclosed)
Latest roundSeries B
IndustryInfrastructure / Lending
The story
Founded 2016 as a receivables-financing marketplace connecting Brazilian SMEs (suppliers), large corporate buyers (Petrobras, Fiat Chrysler), and 100+ financial institutions. Product suite has grown from supply-chain finance (risco sacado) into card-receivables anticipation (Spike Whitelabel), credit assignment (cessão de crédito), and digital duplicatas escriturais registered with Brazil's Central Bank. Positioned as neutral infrastructure — explicitly not a bank — offering white-label platforms to FIs and large corporates that want to run their own anticipation programs.
Last 12 months
Product timeline
2016
Founded in São Paulo to democratize access to credit via receivables anticipation marketplace.· pivot
2021
Raised $6M Series A led by Quona Capital and Kinea Ventures.· banking
2025
Achieved ISO/IEC 27001:2022 certification for information security management.· banking
The stack
2 layers disclosed in Monkey’s embedded-finance stack
Lending
Monkey (in-house marketplace)Risco Sacado (reverse factoring / supply chain finance)Antecipação de recebíveis de notas fiscais (invoice discounting)Antecipação de recebíveis de cartão (card receivables anticipation)Cessão de crédito (credit assignment)Duplicata escritural (digital duplicata registered with BCB)SupplyPlus (buyer-led SCF platform)Spike Whitelabel (card-anticipation program for FIs)Dynamic discounting / early payment programs
Accounting
in the full report
Accounting gap: minor
1 more provider across 1 layer, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.