Last month was a record-breaking one for the company in terms of funding with £74.1m worth of invoices funded to businesses across the UK, up 109.4% on August 2016 (£35.4m).

Funding provided to UK businesses from institutional investors via MarketInvoice has increased more than four-fold to £116.3m in 2017 from £27.8m in 2014. 

Cumulative funding from institutional investors since the platform launched has reached £296.2m.

•   MarketInvoice extends invoice finance to over 400,000 businesses
•   UK P2P platform signs major agreement with European bank
•   MarketInvoice appoints two new vice presidents

Anil Stocker, CEO and co-founder of MarketInvoice (pictured above), said: “Our whole team is proud to be supporting the backbone of the British economy – businesses doing great work in media, technology, design, construction, manufacturing, education and many more. 

“This is a huge milestone for us as a funding platform. 

“We started the company to provide businesses with choice, flexibility and an easy-to-use funding solution. 

“Companies have been able to access funding from £10,000-3m against invoices to fund their working capital, which is vital to the success of small companies dealing with growing orders and long payment terms. 

“This funding has supported fast-growing companies to launch new products, hire more staff and export to new markets.”

Since 2011, the business lender has funded over 70,000 invoices and supported 18,700 jobs.

MarketInvoice has also announced it has signed an agreement with Varengold Bank AG to provide £45m of funding annually via its platform.

This new fund will provide working capital solutions to businesses across the UK.