MarketInvoice partners with NatWest to fund British businesses
Business finance company MarketInvoice joins a select group of leading 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.
MarketInvoice helps 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.
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 (and asset-based lending) sector is providing more finance to UK businesses than ever before. Funding volumes are up 5% year on year and stand at just over £23bn. This is the highest figure ever.
“As the first invoice finance provider on the panel, we will be able to showcase how invoice finance can help businesses of all sizes and work with them to find the right solution. Enhancing access to borrowing is essential for jobs and economic growth.”
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. Their robust service, quick and easy to use solutions, provide another distinct choice for the many innovative businesses in the UK. As the biggest supporter of British business, we understand that traditional funding routes are not always the best option for fast growing start-ups. Through Capital Connections we’re able to signpost a broad choice of funding options through its impressive range of alternative lenders.”
MarketInvoice is the ninth alternative finance provider to join Capital Connections, alongside Funding Circle, Assetz Capital, Start Up Loans, Seedrs, Together, iwoca, Esme Loans* and NatWest Social & Community Capital**. Each provider has been selected to cover the range of different funding products and include a mix of specialty finance and peer-to-peer lending.
MarketInvoice business highlights (last 12 months):
• Reached landmark milestone of funding invoices and business loans worth £2bn to UK companies
• Launched new brand and business loans solution
• Secured credit insurance (Euler Hermes) and credit control (Veritas Commercial Services) partnerships
• Partnered with European banks that are participating directly on the platform alongside the British Business Bank, UK local authorities, global family offices and sophisticated and HNW investors
• Selected in The Sunday Times Tech Track 100 and Global CB Insights Fintech250 2017 rankings
• Appointed Giles Andrews OBE, the founding father of peer-to-peer lending, as chairman
MarketInvoice’s main strategic ambition is to broaden its reach to be able to support a wider range of businesses, from start-ups to larger businesses looking to scale up. The company aims to help even more companies with their working capital needs, so business owners can save time and focus on running their business.