MarketInvoice sees successful Q1
MarketInvoice achieved its best quarter and month of invoice finance funding since it started in 2011.
The value of invoices funded was up 160% from £81.1m in Q1 2016 to £129.6m in the first quarter of 2017.
What is more there were £54.7m of invoices funded from UK businesses in March.
Anil Stocker, chief executive and co-founder of MarketInvoice, said: “This achievement is testament to our customer focussed 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.”
These figures come after MarketInvoices’ first new service launch MarketInvoice Pro in February which reportedly drove the growth.
Stocker added: “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”
The current cumulative value of invoices funded at MarketInvoice stands at £1.2bn.