MarketInvoice hits GBP 2 bln lending milestone

Tuesday 20 March 2018 11:42 CET | News

MarketInvoice, a business finance company, has announced a new milestone of having topped GBP 2 billion worth of invoice finance and business loans to UK companies.

Launched in 2011, MarketInvoice has now provided financing solutions to thousands of businesses across the UK. The company reports that during this time over 90,000 invoices have been funded to 93 countries.

The first GBP 1 billion was achieved after 5 years of trading and the second GBP1 billion took just 14 months to reach. MarketInvoice has launched two new products, confidential invoice discounting and business loans that have helped to boost platform velocity. These helped MarketInvoice provide funding worth GBP 714.2 million to business in 2017 up from GBP 410.4 million in 2016 (up 74%).

According to MarketInvoice, currently, the goal is to build a tech leading solution that is the easiest to use in the market. Open Banking also presents an opportunity for the fintech company.

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Keywords: MarketInvoice, milestone, lending, invoice finance, UK
Categories: Banking & Fintech | E-invoicing, SCF & E-procurement
Countries: World
This article is part of category

Banking & Fintech