MarketInvoice are a leading UK Peer to Peer Invoice Factoring and Discounting Lender
MarketInvoice is UK’s first online marketplace for invoices, acting as an intermediary between businesses and institutional investors. Operating on a pay-as-you-go or contractual basis, their online platform is supported by the global Peer to Peer Finance Association, and has a 5-star Trustpilot rating. Since their inception in 2011, MarketInvoice has funded over £2,000,000 in invoices, as well as partnering with the British Business Bank to fund their invoices. This makes MerketInvoice one of the first Fintech Invoice Factoring lenders in the UK.
Who are MarketInvoice
MarketInvoice is a business finance company with offices in London and Manchester. They deliver quick and easy funding solutions to B2B companies across a range of sectors and sizes. Their smart technology is backed by help from real people, so entrepreneurs can get on with growing their business.
In 2013, the UK government via the British Business Bank, began lending to businesses through MarketInvoice’s platform. This partnership has now seen £160m provided to more than 1200 businesses in the UK. MarketInvoice is a member of the Peer-to-Peer Finance Association and is backed by leading European venture capital fund Northzone (invested in Klarna, iZettle and Trustpilot) and private equity group MCI Capital (also invested in iZettle, Azimo and Gett).
MarketInvoice and Barclays in August 2018 announced a partnership deal that is set to transform the way small and medium enterprises (SMEs) in the UK manage cash flow and accelerate growth. The bank has committed to a significant minority stake in MarketInvoice to give Barclays’ SME clients seamless access to innovative forms of finance. The new partnership is a key part of Barclays’ plans to invest in new business models for growth, and MarketInvoice’s ambition to broaden its reach across the UK.
Marketinvoice Invoice Factoring Benefits
One of the main selling points of Invoice Factoring from MarketInvoice is their transparent fees, which are set at a total of 1-3% of your invoice value. They don’t require long-term contracts, and ensure that the entire process is as straightforward as possible. However, one of their drawbacks is they don’t offer bad debt protection, and you have to take on the credit risk. This is commonly known as recourse finance (or factoring), whereby you take on the responsibility of settling the invoice if your clients are unwilling or unable to pay.
Some of the features and benefits of MarketInvoice’s invoice factoring.
- Access up to 90% of your invoice value
- Helps businesses with occasional or ongoing cash flow needs
- Offers variable length contracts
- Pay-as-you-go invoice discounting is available
- Offers contract finance to free up contract value
- Fast set-up
- Quick payments
- Hassle free with online access to your account
- Personal customer support
- Straightforward costs and no hidden fees
MarketInvoice offers two types of invoice financing which are contract finance and invoice discounting. Contract finance allows you to release the value of your contracts through their online bidding system which can offer some of the value of the contract within 24 hours or the same day.
MarketInvoice’s invoice discounting services offers a range of solutions that offer different contract lengths which include selective invoice discounting for one-off or occasional services with a choice of no contract or 12-month contract. Invoice discounting will give you access to up to 90% of your invoice values quickly and you can monitor your services through their online portal.
Credit Insurance for Marketinvoice Customers
With Euler Hermes credit insurance you’re protected in the event a customer becomes insolvent or fails to pay within the agreed terms and conditions. Euler Hermes offers customer risk monitoring, prevention and recovery of unpaid debt, as well as compensation for uncollected receivables. Through Veritas Commercial Services you have access to a wide range of credit control services. This provides credit collection support on a fully confidential basis and helps you to optimise your sales ledger performance.
Get a Quotation for Invoice Funding
Feel like your business could be supported with invoice Funding? As a leading Invoice Finance Broker in the UK, Invoice Funding have supported businesses like yours since 2010. we work with Market Invoice by introducing clients to them which we feel will best work together. We do not charge a fee for this services as the lender provides us with a commission for the introduction. Marketinvoice offer world class low rates for Invoice Factoring. We have negotiated discounting rates for clients we introduce. Simply complete the enquiry form below for a quotation.