MarketFinance lending volumes reach record £64m
In the year to date, MarketFinance has supplied a record £64m through loans and invoice finance to businesses in the UK, up by 50% from the same period last year.
In total, it has provided over £2bn underserved businesses.
The lender announced that it turned profitable in February 2021 and will continue to grow at pace as the business scales its products and operations.
In reaching a wide range of businesses, MarketFinance has deepened its 2018 partnership with Barclays Bank.
In September 2020, the lender partnered with Ebury to assist small to medium enterprises (SMEs) across the UK in accessing emergency lending.
Aligning with its £10m BCR commitments, MarketFinance is continuing to partner with high street banks and business platforms to enable more businesses to access financial solutions.
Anil Stocker, chief executive at MarketFinance, said: “The pandemic has sped up digital adoption across large parts of our society.
“Business lending is no different. We are seeing a continuing need to provide fast, easy-to-access, digitally available funding solutions to SMEs across all sectors within the UK.
“Fintech lenders such as MarketFinance are well placed to help power the post-COVID economic recovery across the country.
“A key part of our strategy is partnering with organisations who want to improve access to finance for their business customers.
“Our mission has always been to give SMEs a fair playing field for them to get access to working capital.
“We’re now working with partners to embed our finance technology within their platforms, allowing their customers quicker and easier access to the working capital they need.”