MarketInvoice and KashFlow announce partnership to boost small business funding
Deal between Young Gun-founded companies will connect accounts to allow customers to access finance “within 20 minutes”
Peer-to-peer lending service MarketInvoice and accountancy software firm KashFlow have announced a partnership which will connect their platforms to “make it easier” for small and medium businesses to apply for finance online.
Launched in 2011 by Ilya Kondrashov and Young Guns Anil Stocker and Charles Delingpole, MarketInvoice is an online platform which allows businesses to upload and sell their unpaid invoices and get “same-day funds”.
Kashflow, founded by 2011 Young Gun Duane Jackson, was “one of the first” accountancy companies to use the software-as-a-service model; giving small businesses an alternative way to manage their accounts.
Said to enable small firms to access finance “more quickly than ever before”, the deal will give KashFlow users access to MarketInvoices services and vice versa. So, for instance, approved businesses will be able to use MarketInvoice’s service but sell their invoices online to a pool of investors through KashFlow.
The agreement was outlined in a statement on KashFlow’s website:
“Funding remains one of the major hurdles facing small business owners, and while affordable and effective solutions to better financial management are there this won’t help if there is no capital.
“This [partnership] won’t just be a boost to cash flow, but also helps reduce the time business owners spend searching for the capital they need to continue; time that can be better spent building their companies.”