MarketInvoice breaks records in the first quarter of 2017
It’s been a big start to the year for us here at MarketInvoice. Between January and April we broke our records for funding, providing funding against £130 million worth of invoices from businesses all over the UK.
Not only is this a great sign that we’ll hit our goal of providing funding against £2 billion worth of invoices this year, but also means we’re helping more businesses to succeed than ever before. We’ve also found that businesses are funding bigger invoices with us, with the value of invoices funded up 160%, bringing the current cumulative value of invoices funded to £1.2 billion.
MarketInvoice Pro, our confidential invoice discounting facility, was launched in February and has, in large part, driven the stellar quarter’s results. The service offers businesses an open funding line against their outstanding invoices, meaning that we can extend our funding to thousands more businesses across the UK.
Anil Stocker, CEO and co-founder of MarketInvoice commented:
“This achievement is testament to our customer-focused approach and the talented team members who work tirelessly to secure the right funding options and risk assessments for businesses and investors on our platform.”
“This achievement mirrors industry trends where asset-based finance is increasingly taking market share from traditional forms of business finance. Businesses are looking beyond their obvious ‘go-to’ options and realising they can use invoice finance in an effective way.”
“We’ve seen a healthy take-up of MarketInvoice Pro, our first working capital solution for businesses wishing to finance all of their invoices. This gives businesses across the country the means to address priorities such as hiring more staff, launching new products and paying their suppliers.”