The announcement follows a £28.3m trial investment from BNI last year, which has now led the bank to signal its full commitment and confidence in the MarketInvoice proposition.
Institutional investment via MarketInvoice has almost doubled over the last three years, with sums advanced to UK businesses rising from £96.1m to £176.2m.
“Institutions have played a significant role in our growth story and over the past two years have consistently funded almost 60% of the working capital provided to UK businesses via MarketInvoice,” said Anil Stocker, CEO and co-founder of MarketInvoice (pictured above).
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“This new commitment from BNI is further proof of our ability to provide finance to high-growth businesses across the country - we’re excited by their support of our mission.”
“I’m sure we’ll see many more examples of this type of collaboration in the coming months.”
Global institutional investments in MarketInvoice have increased 34% since the Brexit vote, despite funding from UK investors having remained constant.
The platform attributed this surge in part to the launch of MarketInvoice Pro – a confidential invoice discounting facility – in February 2017.
“We are proactively working with fintech businesses globally that prescribe to our vision of providing low-cost, innovative products with exceptional customer service,” added Pedro Coelho, executive chairman of Banco BNI Europa.
“MarketInvoice has consistently delivered these values over the years.
“The MarketInvoice Pro service is now a further means to build on our relationship as it provides a longer-term arrangement.”
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