MarketInvoice pairs with Natwest to fund UK SMEs
Business finance company, MarketInvoice has joined a select group of alternative finance firms on NatWest’s Capital Connections panel.
Capital Connections helps SMEs to access alternative sources of capital after being unable to secure traditional financial backing.
Business customers are signposted to the panel of innovative sources of finance including equity crowdfunding, marketplace lenders and now invoice financing.
Anil Stocker, CEO and co-founder of MarketInvoice, commented: “Featuring on this panel will broaden our reach and help even more businesses achieve their goals.
“Companies across the UK are choosing to diversify funding sources with more than £4bn advanced through alternative finance firms.
“Furthermore, the invoice finance sector is providing more finance to UK businesses than ever before. Funding volumes are up five per cent year-on-year and stand at just over £23bn. This is the highest figure ever.”
MarketInvoice aims to help businesses get paid faster by unlocking cash tied up in unpaid invoices. Businesses can choose to fund specific invoices or their whole ledger, based on funding needs.
The range of invoice finance solutions help to improve cash flow, quickly and easily. It’s a simple way to get paid upfront, without having to wait out lengthy payment terms.
Last month, MarketInvoice reached the milestone of funding £2bn worth of invoices and business loans to UK companies.
Launched in 2011, the company has provided business finance solutions to thousands of businesses across the UK who employ more than 19,000 people.
During this time, over 90,000 invoices have been funded to 93 countries. In 2017, MarketInvoice almost doubled the average amount advanced to UK businesses - from £606k in 2016 to £1.14m.
Alison Rose, CEO of commercial and private banking at Natwest, said: “We’re excited to welcome our first invoice finance provider to Capital Connections.
“MarketInvoice has serviced a large number and wide variety of businesses. [Its] robust service, quick and easy to use solutions, provide another distinct choice for the many innovative businesses in the UK.
“Through Capital Connections, we’re able to signpost a broad choice of funding options through its impressive range of alternative lenders.”