MarketFinance has entered the business loan market and plans to lend up to GBP 1 million apiece to businesses to businesses over the coming months, according to GrowthBusiness.
Formerly known as MarketInvoice, the invoice finance provider now offers up to GBP 250,000 in business loans – rising to GBP 500,000 over coming months and then GBP 1 million.
This is in addition to offering up to GBP 1 million invoice financing – forward funding against receivables – while larger businesses can access up to GBP 5 million in structured facilities combining invoice financing with a loan.
The company, whose backers include Barclays, Santander InnoVentures, European venture capital fund Northzone, private equity group MCI Capital, raised GBP 30 million in Series B funding back in January 2019.
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