MarketInvoice reaches £2bn business finance milestone after ‘productive year’

MarketInvoice has achieved a new nine-figure milestone with its business finance services.

The company confirmed it has now advanced £2bn worth of invoice finance and business loans – 14 months after hitting the £1bn mark.

MarketInvoice, founded in 2011, has offices in London and Manchester.

The firm provided funding to businesses worth £714.2m in 2017, up 74% against the £410.4m recorded in 2016.

Last year also saw the average funding requirement nearly double, from £606k in 2016 to £1.14m in 2017.

The average value of invoices funded likewise rose during the period, growing from £56.5k to £96.6k.

MarketInvoice’s CEO and co-founder, Anil Stocker, said: “2017 was a productive year for MarketInvoice and we look forward to the next billion landmark before the end of the year.

“Reaching the £2b milestone is testament to the trust businesses place in our solutions and the customer service we have built our brand on.”

He added: “We are now servicing larger business with bigger funding requirements. Our growing institutional investor base on the platform has enabled us to support a broader pool of businesses.”

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →