BP Bunge Bioenergia, one of the largest sugarcane processors in Brazil, launched AceleraBio, its receivables anticipation platform. The initiative, which seeks to strengthen the company’s supply chain, is aimed at service and material suppliers, whether small, medium or large.
The platform was created in partnership with fintech Monkey, the largest financial solutions marketplace in Latin America. With this new feature, suppliers will be able to view their invoices and request, from participating financial agents, the advance payment of invoices for goods and services.
The novelty is the concept of reverse auction. In it, banks and financial institutions offer the discount rate according to the maturity date of the invoice and the one who makes the best proposal and with the most attractive rate will be responsible for the operation. Admission to the platform is free and with operations free of IOF (Tax on Financial Operations).
For Monkey, which has already transacted more than BRL 45 billion, the program’s potential is enormous and the fee reduction can reach three times compared to a traditional operation. Giving more credit opportunities than, for other reasons, these companies would end up paying high interest on other credit operations.
AceleraBio, for BP Bunge Bioenergia, which has 11 agro-industrial units and is present in five states, is yet another initiative to strengthen the partnership relationship with its suppliers, helping with financial sustainability to deal with an adverse economic scenario so that, in this way, keep making a difference in their business.