The value of invoices funded increased 67% year-on-year from £117.6m (Q3 2016) to £196.2m (Q3 2017).
The cumulative value of invoices funded since 2011 has now reached £1.55bn, of which £500.4m has been funded in 2017 alone.
MarketInvoice has attributed the growth to its confidential invoice discounting, which it launched in February 2017.
The product offers businesses an open funding line against their outstanding invoices and was the first new service launched by the company since it was established in 2011.
- MarketInvoice appoints senior BDM
- MarketInvoice hits £1.5bn funding milestone
- MarketInvoice extends invoice finance to over 400,000 businesses
Neha Mittal, VP finance and strategy at MarketInvoice (pictured above), said: “We are proud to be supporting UK businesses, providing timely and effective working capital solutions, as they deliver goods and services here in the UK and abroad.
“Indeed, it is a privilege to serve these businesses as they blossom and grow, making an impact in local communities and the wider UK economy.
“Business leaders and entrepreneurs have the peace of mind that invoice finance can provide a secure, efficient and timely means to remedy matters as they look to scale and develop their businesses.”
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