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UK peer-to-peer lender MarketInvoice raises GBP 6 mln in funding round

Tuesday 18 August 2015 09:08 CET | News

MarketInvoice, a peer-to-peer business lender, has closed a Series A round of financing despite already being four years old and lending over GBP 475 million (USD 741 million) to date over its platform.

The UK startup has raised GBP 6 million (USD 10 million) from Nordic venture capital company Northzone, which also backed Spotify, and the family office of Paul Forster, the co-founder of job search engine Indeed.com.

MarketInvoices online platform applies the peer-to-peer lending model to invoice financing, a form of business lending where companies can borrow money against unpaid invoices. Its effectively a way for businesses to get hold of money theyre due in the future today, although at a discount.

But MarketInvoice plans to open up the platform to retail investors — ordinary people — in 2016, using the money raised to help with a marketing push.

MarketInvoice also wants to expand to new markets in Europe in H2 2016.


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Keywords: MarketInvoice, UK, peer-to-peer, lender, financing , lending, platform, Northzone, invoice financing, unpaid invoices
Categories: Banking & Fintech
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