MarketInvoice extends its finance to over 400,000 more UK businesses

MarketInvoice, a London-based finance company, has extended its invoice finance to over 400,000 additional businesses across the country.

This will enable small businesses to access a confidential invoice discounting service, which has previously been the preserve of larger businesses.

Anil Stocker, CEO and co-founder of MarketInvoice, said: “Invoice finance helps to bridge long payments terms and credit control prevents late payment, all with aim of improving a business’ working capital cycle.

“The strategic alliance with Veritas will enable us to support a broader range of businesses across the UK. We are excited to be helping even more businesses take charge of their cash flow and not let a lack of funding get in the way of growth.”

The alliance with Veritas Commercial Services (Veritas) means that businesses with a turnover of just £300k can now benefit from MarketInvoice Pro, providing an open funding line against all their outstanding invoices.

Veritas’ credit control solution will enhance the data available to MarketInvoice’s risk model allowing small businesses access to funding at better rates.

Businesses who use the Veritas method will also be able to monitor the status of payments and will get live updates on chasing activity by their credit controller.

Jenny Oldfield, CEO at Veritas, commented: “The strategic alliance with MarketInvoice is very exciting. As a result, more small, growing businesses will now be able to benefit from a fully integrated invoice finance facility that puts them in control.

“The powerful combination of technology and talent from both our organisations brings tangible advantages to SMEs.”

MarketInvoice’s main strategic ambition is to broaden its reach to be able to support a wider range of businesses, from startups to larger scales.