The alliance will see Investec commit £50m on the MarketInvoice platform to fund invoice finance deals.

The bank plans to use the platform’s proprietary technology to originate and underwrite credit decisions, with Investec making funding available to deploy via MarketInvoice.

Investec hopes the partnership will enable it to service even the smallest businesses with digital loans and invoice finance.

“We’re excited to be partnering up with an entrepreneurial team at a global bank such as Investec who share our vision to support ambitious growing UK businesses,” said Anil Stocker, co-founder and CEO at MarketInvoice (pictured above).

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“Our technology – coupled with their strong brand recognition – is what makes this collaboration so exciting.”

Since 2011, MarketInvoice has advanced more than £1.7bn to UK businesses through its innovative finance solutions, funding which has come from a combination of sophisticated investors and institutions such as banks.

MarketInvoice will be undertaking all credit risk analysis, underwriting and payment processing for all Investec business banking customers, who will be able to use the platform’s business finance solutions alongside the bank’s products and services.

“We believe there is much scope for traditional banks to partner with the latest fintech players, to better service the market,” added Anil.  

“Open banking should encourage and empower banks to deliver the highest innovation and customer service to their customers.”