Oliver Wyman and Pinheiro Neto finalize the second edition of the FintechNOW competition in Brazil

Nov 23, 2018

With eight finalists, the competition awarded the first Supply Chain Finance startup in Brazil.

Oliver Wyman, a world leader in strategic consulting, and law firm Pinheiro Neto Advogados announce the closing of the second edition of the FintechNOW Brazil contest. With eight finalist startups, the 2018 edition selected Monkey Exchange, Brazil's first Supply Chain Finance platform, as the big winner. As recognition, the startup will receive a strategy project from Oliver Wyman to boost its new stage of growth.

"All participants have brought quality, innovation and creativity to the contest. We are happy to be able to witness and support the development of these startups", said Ana Carla Abrão, Oliver Wyman's partner.

FintechNOW aims to select a fintech - startup that makes use of new technologies to solve financial problems -, to receive a strategic project from Oliver Wyman.

In this second edition, fintechs from various segments participated, for example: debt negotiation, insurance, financial management for SMEs, machine learning, among others. For the selection, the evaluators considered the differential of the business model, the level of innovation applied, the relevance of the market and the competitive scenario, as well as the trajectory and impact of the startup.

The winner of this edition was Monkey Exchange, which acts as a receivables’ marketplace, connecting suppliers of large companies to qualified investors, through a digital trading environment.

Throughout the contest, which began in May of this year, Oliver Wyman had an active participation, supporting the startups to prepare for the selection panels. The partners participated in panels, discussions and the evaluation, and put their team of consultants in contact with the fintechs to support and guide actions. As the winner, Monkey Exchange now has the guidance and advice of Oliver Wyman's experts.

About Oliver Wyman

Oliver Wyman is a global leader in management consulting. With presence in more than 50 cities in nearly 30 countries, Oliver Wyman combines deep industry knowledge with services specialized in strategy, operations, risk management and organizational change. The company has more than 5,000 professionals worldwide, helping its clients optimize their businesses, improve their operations and risk profile and accelerate their organizational performance to take advantage of the most attractive opportunities. Oliver Wyman is a wholly owned subsidiary of the Marsh & McLennan Companies [NYSE: MMC]. For more information, visit www.oliverwyman.com. Follow Oliver Wyman on Twitter @ OliverWyman