marvin

Marvin is a Brazilian financial technology company operating in the B2B payments sector, established to leverage new regulations governing credit card receivables. The company was founded in 2021 by Bernardo Vale and Henrique Echenique. The founders' backgrounds are deeply rooted in the finance and technology sectors; Vale was a partner at the fintech Monkey Exchange, and Echenique was a director at the receivables registrar Cerc. Their experience was instrumental in recognizing the opportunities presented by the Brazilian Central Bank's Circular 3.952, which mandated the registration of all credit card transactions, effectively turning future receivables into negotiable assets.

The firm's core business revolves around a platform that allows small and medium-sized businesses (SMBs) to use their credit card receivables to pay suppliers directly. This model addresses a significant pain point for retailers, who often face high fees to anticipate receivables for working capital, by enabling them to use these future funds as a form of payment. For suppliers and large industries, Marvin's platform reduces credit risk, as the guarantee of payment is shifted from the individual retailer to the card acquirers (like Cielo, Rede, and Stone). The business model involves partnering with large industries, such as O Boticário, Alpargatas, and Ale, to offer Marvin as a payment method to their vast networks of retailers and franchisees.

The company's platform functions as a financial operations control center for merchants, providing analytics on cash flow and accounting functions. Suppliers, in turn, can monitor payments from all their merchants and manage their treasury operations. A significant milestone was securing a $15 million Series A funding round in May 2022, led by U.S. venture capital firm Canaan, with participation from existing investors Canary and Maúa Capital. This capital infusion was earmarked for team expansion and operational growth throughout Brazil.

Keywords: B2B payments, credit card receivables, supply chain finance, fintech, financial technology, working capital, payment solutions, merchant services, receivables financing, Brazil