Mercado de Recebíveis, a Brazilian fintech specialized in advance of receivables, has just concluded the raising of its own Investment Fund in Credit Rights (FIDC) for a value of US$ 25 million, structured by Oriz Partners. The novelty crowns a year of explosive growth for the company, which reached US$ 170 million in Total Payment Volume (TPV), ten times the value registered in 2024.
The structuring of the FIDC itself was key to boosting the fintech credit volume. Previously, Mercado de Recebíveis operated only through partners such as banks and funds, which limited its ability to expand.
«We are starting with US$ 25 million, but we have ambitious plans and we are going to need resources for that. The FIDC itself has a component of meeting the clients’ need for liquidity in a robust manner, with the peace of mind of having stable and structured financing,” declares Henrique Echenique, CEO of Mercado de Recebíveis.
Maturity of the FIDC market in Brazil
Oriz Partners, the firm responsible for structuring the fund, acts as both a family office and private banking, with US$ 1,870 million under management. According to Rafael Barbosa, partner at Oriz Partners, the demand for FIDCs has grown significantly, signaling the maturity of the Brazilian capital market.
In October 2025, almost US$1.7 billion in FIDCs were issued, according to data from the Brazilian Association of Financial and Capital Markets Entities (Anbima). The figure represents an increase of 47% compared to the same month in 2024.
«Before, FIDC was almost a dirty word. But today there is greater investor maturity in relation to this type of product,” says Barbosa.
Innovation with blockchain and credit card
The accelerated growth of Mercado de Recebíveis in 2025 is the result of strategic innovations such as the launch of its credit card in April, in alliance with Visa. The modality allows companies to use their own receipts as a credit limit on the card, paying the bill automatically through a blockchain-based infrastructure.
The fintech also raised two investment rounds in two months. In June it obtained capital from URCA Angels and in August attracted Headline, in a transaction that raised the company’s market value to US$51 million.
Founded in 2023, Mercado de Recebíveis reached breakeven in May 2025, ahead of its initial year-end goal.
Plans for 2026 and scriptural duplications
Echenique’s expectation is clear: to grow again ten times in 2026 in relation to 2025. To achieve this, fintech is attentive to a new wave that is beginning to form in the market, the duplicatas deeds, whose regulation should come into force at the beginning of next year.
Currently, a large part of the duplicates circulates in a non-standardized manner, with records dispersed between institutions and a greater risk of duplication. With duplicate scripts, the receivables market will gain more transparency, standardization and security, reducing fraud and operational costs, and making this segment more attractive for investors and companies.
