MarketInvoice funds almost £162m of invoices
By Martin GreenlandMarketInvoice has recorded its best ever quarter and a record-breaking month of invoice finance funding
Section: mobile apps categories
MarketInvoice funded invoices worth £161.9m in Q2 2017, while June 2017 was its busiest month with £64.2m of invoices funded.
The Q2 2017 total – which saw MarketInvoice fund £5,196 every minute – represented a 57.2% increase on the £103m recorded in Q2 2016.
Total lending since MarketInvoice launched in 2011 now stands at more than £1.3bn.
Anil Stocker, CEO and co-founder of MarketInvoice (pictured above), said: “This is a positive achievement for the business and is testament to our customer-focused approach and our team members who work hard to create the best experience for businesses and investors using our platform.
“Our new invoice finance facility MarketInvoice Pro launched in February 2017 [and] has driven much of the increase in our funding amounts, and appeals to businesses that have regular need to access working capital to hire more staff, launch new products and pay suppliers.
“According to recent industry statistics, the use of invoice finance by businesses as means to cover working capital has increased 14% over the past year to £21.9bn at the end of Q1 2017.
“MarketInvoice now represents the easiest way for businesses to access this finance whether it is to fund single invoices or set up an invoice finance facility.
“We’re looking forward to breaking more records in the coming months.”
Keywords: MarketInvoice, finance invoice business, invoice business, Anil Stocker, UK business, UK invoice, business investors, record-breaking month, record-breaking, financial funding, suppliers invoice, strategic ambition