Canaan Partners Leads $15M Series A Financing of marvin.
Gunderson Dettmer represented client Canaan Partners in their first investment, as lead investor, in Latin America for the $15 million Series A financing of marvin., a B2B payments platform based in Brazil. marvin.’s platform facilitates the credit and payment relationship between suppliers and retailers, enabling suppliers to sell more. marvin. will use its new capital to scale hiring.
In the announcement of the transaction, General Partner at Canaan Brendan Dickinson said, ““Marvin’s team understands the new regulation better than anyone, which is why this investment is our biggest in Latin America to date. As Brazil moves from being a cash-centric society to one of the world’s most dynamic digital payments markets, we are excited to see Marvin play a leading role and build new financial opportunities for retailers across the country.”
The Gunderson deal team was co-led by Christel Moreno and Hozefa Botee and included Carolina Zanolo and Priscila Park.