Monkey, the leading working capital financing fintech in Latin America, providing receivables anticipation solutions, founded by Brazilians entrepreneurs Gustavo Muller, Bruno Oliveira and Felipe Adorno, is excited to announce a significant investment from DEG (Deutsche Investitions, a Development Finance Institution and subsidiary of KWF). This strategic partnership marks a pivotal moment in Monkey’s journey, as it will strengthen the company’s cash flow, accelerate expansion efforts, and further enhance its financial management tools.
The US$ 12 million Series B investment, led by Brazilian investor L4—an independent fund whose sole shareholder is B3—in conjunction with DEG, will enable Monkey to expand its product offerings, enhance technological capabilities, and extend its market reach, particularly in countries with inefficient banking systems. With this support, Monkey aims to drive financial inclusion, enlarge credit offerings to SMEs, and provide cutting-edge solutions that empower businesses’ working capital. Kinea and Quona Capital, existing shareholders, also exercised their pro rata rights in the round, reinforcing their commitment.
DEG, a prominent development finance institution, shares Monkey’s commitment to fostering sustainable economic growth and development. This partnership aligns with Monkey’s vision of creating impactful financial solutions that address real-world challenges. By leveraging DEG’s extensive expertise and resources, Monkey is poised to scale new heights and deliver even greater value to its stakeholders.
“We are delighted to support Monkey in the enhancement of auction systems in the supply chain finance sector,” said DEG Managing Director Roland Siller. “This kind of innovation is extremely important to disrupt the existing oligopolistic market structures in Brazil and offer better and more affordable financial services.”
Monkey’s mission is to democratize access to financial services, and this investment will play a crucial role in advancing this mission. With the new investment’s backing, the company plans to enhance its technology by investing in cutting-edge solutions to improve the efficiency, security, and user experience of its platform. Additionally, the company aims to expand its market presence by entering new markets such as Mexico and the USA, where it has already opened an office in Charlotte, North Carolina, and strengthening its presence in existing ones, reaching more customers and driving financial inclusion.
“We are thrilled to welcome L4 and DEG as a new strategic partners,” said Gustavo Muller, CEO of Monkey. “Their investment is a testament to the impact and potential of our business model. Together, we will accelerate our growth and continue to innovate, making financial services more accessible and inclusive.”
Philipp Bergbusch, Investment Manager responsible for equity fintech VC investments in Latam at DEG, concludes: “Monkey has been able to create an outstanding pioneering technological platform and a range of services to enhance financial planning flexibility for corporates, SMEs, and financial institutions that has a strong growth potential not only in Brazil but throughout Latin America and beyond. I’m enthusiastic about DEG’s investment in Monkey as DEG together with L4 and the existing investors will support to accelerate Monkey’s mission to diversify the financing landscape, driving sustainable economic growth and innovation across multiple sectors by contributing its expertise in the sector and its broad global network.”
ABOUT MONKEY
Monkey is the leading B2B working capital financing fintech in Latin America. The company’s marketplace focuses on early payment solutions, allowing users to anticipate invoices, accounts payable, accounts receivable, and credit card receivables. Monkey provides fast and low-cost access to capital, tapping into trillions of dollars locked up as receivables between buyers and their suppliers worldwide. With a TPV (Total Processed Volume) of more than USD 20 billion since its foundation and the largest multinational companies operating in Latam as clients (such as Petrobras, Fiat Chrysler, Dana, Ambev, Braskem, Suzano, Gerdau), Monkey is a brazilian-based venture funded by L4, DEG, Kinea Investments and Quona Capital. To learn more, visit: https://www.monkey.tech/
ABOUT L4
L4 Venture Builder is an independent investment fund with B3 as an investor, investing in companies with high growth potential. To learn more, visit: https://www.l4vb.com/
ABOUT DEG
DEG, a German development finance institution, supports private sector enterprises operating in developing and emerging markets. As a member of the KfW Bankengruppe, DEG provides financing, advisory services, and other forms of support to foster sustainable economic growth and improve living conditions. With a focus on promoting entrepreneurship and innovation, DEG aims to contribute to economic development and social progress in the regions where it operates. To learn more, visit: https://www.deginvest.de/
Company Name: Monkey
