MarketInvoice reports record trading day

The business finance company – which specialises in funding invoices — has averaged £3.2m worth of invoices per day so far this year, and its record day marks the first time that more than £4m has been advanced in a day.

The £4.1m figure was a £1m increase on the amount advanced on 1^st August 2016.

The fintech company’s record day followed its record quarter in Q2 2017 when it funded £161.9m worth of invoices.

Anil Stocker, CEO and co-founder of MarketInvoice (pictured above), said: “This is an historic day for the business.

“We are pleased to be supporting businesses and confident that we can provide funding to them.

“Invoice finance is alive and well.

“Current trends (Asset Based Finance Association) indicate that invoice finance is challenging overdrafts and loans as a means of filling the working capital void faced by many businesses across the UK.

“Our research shows that more than a third (38%) of businesses anticipate a cash squeeze in the next six months, which could mean cut backs on expansion (34%), innovation (33%) and market spending (20%) as reported by business leaders.”