Having funded invoices over GBP 1.1bn (to date, since 2011) with an invoice-by-invoice finance product, MarketInvoice is aiming to double its lending in 2017 with the launch of MarketInvoice Pro which offers businesses an open funding line against their outstanding invoices.
The growth target is underlined by significant demand from existing users, interest from investors seeking to increase their deployment on the platform and a recent GBP 7.2m investment into MarketInvoice by MCI Capital and Northzone Partners.
MarketInvoice’s main strategic ambition is to broaden its reach offering to be able to support a wider range of businesses, from start-ups to businesses looking to scale-up.
The new confidential invoice discounting line is secured against outstanding invoices. Companies can use the funding line when they need it, and the value of the facility grows as the company grows.
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