The partnership between MarketInvoice and Xero is set to enable businesses to apply and be approved for funding directly via their accounting software. After the one-off approval process is complete businesses can repeatedly generate almost-instant finance by selling their long-dated invoices directly to investors.
Businesses access the MarketInvoice Xero portal and click ‘apply through Xero’. They then login (if not already logged in) to their Xero account and an application form is pre-populated with data from Xero. They set up a password and contact number and click apply. MarketInvoice will get back to within 24 hours to let them know if they’ve been approved. Once approved, businesses can access the MarketInvoice platform from Xero and sell selected invoices. Funding is set to be advanced within a couple of hours.
Businesses use MarketInvoice to selectively sell their invoices to a network of global investors. MarketInvoice is a P2P funding solution, accessible to a range of UK businesses.
In March 2014, MarketInvoice joined the Peer-to-Peer Finance Association
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