Young Guns MarketInvoice fund £129.6m worth of invoices in record quarter
The Startups 100-ranked peer-to-peer invoice finance marketplace also observed a record month in March
Peer-to-peer invoice finance marketplace MarketInvoice has recorded its best quarter ever, funding £129.6m in Q1.
The Startups 100-ranked business also observed a record month in March, funding £54.7m worth of invoices.
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Launched in 2011 by Young Guns Charles Delingpole and Anil Stocker, the online marketplace allows small businesses to sell their unpaid invoices to a pool of independent investors.
“This achievement is testament to our customer focused approach and the talented team members who work tirelessly to secure the right funding options and risk assessments for businesses and investors alike on our platform.
“Our tech advantage using innovative AI and Machine Learning capabilities means we are able to sync information faster and our analysts are able to make better, more qualified decisions quicker for businesses.
“This achievement mirrors industry trends where asset-based finance is increasingly taking market share from traditional forms of working capital options. Businesses are looking beyond their obvious ‘go-to’ options and realising they can use invoice finance in an effective and meaningful manner.”