Member Article

MarketInvoice tops £161m for Q2 following busiest month ever

Business financing firm MarketInvoice has had its strongest quarter yet after its invoice lending volumes surpassed £60m in June, its busiest ever month.

The FinTech firm, which provides companies with access to financing through their unpaid invoices, saw the value of invoices funded on its platform rise by 57% from £103m in Q2 of last year to £161.9m this year.

The figures bring total cumulative invoice funding provided by the London-headquartered business to £1.34bn, with recent gains driven significantly by the launch of its ‘MarketInvoice Pro’ confidential invoice discounting facility.

Anil Stocker, CEO and co-founder of MarketInvoice commented: “This is a positive achievement for the business and is testament to our customer focused approach and our team members who work hard to create the best experience for businesses and investors using our platform.”

“Our new invoice finance facility, MarketInvoice Pro, launched in February 2017, has driven much of the increase in our funding amounts, and appeals to businesses that have regular need to access working capital to hire more staff, launch new products, and pay suppliers.”

Founded in 2011, MarketInvoice has raised over £20m in funding over the last six years with the likes of Northzone and MCI Capital all taking a stake in the business.