Olist Acquires Flip to Power SME Credit Infrastructure

The e-commerce enabler dives deeper into fintech with a BRL $90M receivables fund.

Olist acquires Flip, a fintech specialized in receivables anticipation for small and medium-sized enterprises (SMEs), in a strategic move to expand its fintech offering. The deal includes the creation of a BRL $90 million fund dedicated to SME credit and marks a key milestone in Olist’s transformation from a marketplace enabler into a full-stack business platform.

Olist acquisition of Flip reinforces its shift into embedded finance business – after several finance rounds by Olist – just days after the announcement of IORQ, a fintech founded by Patrick Sigrist, a prominent investor known for creating IFOOD and NOMAD. IORQ boasts embedded finance infrastructure.

Why Olist Acquired Flip

Flip’s technology enables real-time risk assessment and automated pricing for receivables. With over R$1 billion in originated credit transactions, Flip now operates under the brand Flip by Olist. The integration will allow Olist ERP users to access credit and receivables tools natively within their workflow.

With more than 50,000 SME clients, Olist plans to streamline their experience by offering features like invoice issuance, sales tracking, and receivables anticipation — all in one place. The credit product is expected to launch within 60 days of the acquisition.
This means the benefits of Olist acquiring Flip will soon reach thousands of SMEs in Brazil.

“Our vision is to be the operating system of commerce in Brazil — and credit is a central pillar of that strategy,” said Tiago Dalvi, CEO of Olist.

Long-Term Strategy After Olist Acquisition of Flip

The Olist–Flip deal fits into Olist’s broader roadmap of becoming a dominant fintech platform. The company projects that credit and financial services could account for more than 50% of its total revenue within three years, echoing strategies employed by global leaders like Shopify and Mercado Libre.

By embedding Flip’s fintech infrastructure into its ERP, Olist positions itself to address Brazil’s fragmented SME credit landscape — a market with high demand but limited access to formal financing.

The Firms Behind the Deal

 Lefosse Advogados acted as Brazilian counsel to Olist. Lefosse deal team on Olist acquisition of Flip comprised Mariana Pollini (Partner); Luis Sima (Associate); Luiza Ohanna (Associate); André Mileski (Partner); Jorge Kou (Counsel); Marina Reali (Associate); Aloizio Lima (Partner); Amanda Daher (Associate); Gianluca Notarbartolo (Associate); Guilherme Almeida (Associate); Fernando Carvalho (Partner); Giulia Caruso (Associate); Emmanuel Abrantes (Partner); Beatriz Salotti (Associate); Thaís Ambrosano (Counsel); Juliana Rabischoffsky (Associate); Pedro Nardo (Associate); Carla Rossi (Partner). 

 Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP acted as U.S. counsel to Olist with Rafael Bellaver advising on the transaction.

Bronstein Zilberberg Chueiri Potenza Advogados served as legal counsel to Flip. Partner Sérgio Bronstein led the firm’s deal team

Olímpia Partners acted as financial advisor to Olist and IGC to Flip.

A R$90 million FIDC was structured to fuel the receivables product post-acquisition.

The fact that Olist acquires Flip signals a pivotal step in the company’s evolution from a commerce enabler to a comprehensive financial platform for Brazilian SMEs. By embedding receivables anticipation directly into its ERP ecosystem, Olist is positioning itself to compete not only in the retail and logistics sectors but also in fintech — a move that could redefine its long-term growth trajectory. As credit becomes an integral part of the platform’s value proposition, the move in which Olist acquires Flip underscores the power of strategic M&A to unlock scale, deepen client engagement, and drive new revenue in underserved markets.

A R$90 million FIDC was structured to fuel the receivables product post-acquisition.