25 February 2018
Visit www.capgemini.com/worldreports

MarketInvoice to broaden access to retail investors with £6 million investment

17 August 2015  |  6198 views  |  0 20 pound note

MarketInvoice, a P2P platform for small business lending, has raised £6 million in its first round of financing as part of an effort to attract retail investors.

Launched in 2011 and based in London, MarketInvoice has traded £475 million across the platform - which provides invoice-backed working capital to businesses - with £30m per month currently being raised.

The £6 million investment in the firm comes from existing shareholders Northzone and the family office of Paul Forster, the co-founder of online jobs site Indeed.com.

The company says it will use the funds to broaden its product set including allowing businesses to access funds against licences, contracts, and subscriptions, as well as supplier finance where businesses can get finance to pay suppliers to complete large projects.

Following the Chancellor’s confirmation of an ‘Innovative Finance ISA’ which will allow tax free investing in peer-to-peer finance from April 2016, MarketInvoice also plans to use the new funds to enable retail investors to participate in the market.

Jeppe Zink, General Partner at Northzone, says: "This is a classic example of a tech business disrupting an age-old industry and having a fantastic real world impact on its users based on a fundamentally better service. The opportunity for growth is massive.”

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

P2P lenders target UK market ahead of new regulation

P2P lenders target UK market ahead of new regulation

11 August 2015  |  7934 views  |  0 comments | 15 tweets | 8 linkedin
P2P lender Assetz Capital raises more than £3 million on Seedrs

P2P lender Assetz Capital raises more than £3 million on Seedrs

20 April 2015  |  4953 views  |  1 comments | 6 tweets | 3 linkedin
Victory Park Capital plans £200m London listing for P2P lending fund

Victory Park Capital plans £200m London listing for P2P lending fund

26 February 2015  |  6116 views  |  0 comments | 5 tweets | 1 linkedin
European alternative finance market breaks EUR2 billion barrier

European alternative finance market breaks EUR2 billion barrier

23 February 2015  |  6259 views  |  0 comments | 14 tweets | 4 linkedin
UK P2P lending hit £1.2 billion in 2014

UK P2P lending hit £1.2 billion in 2014

30 January 2015  |  11497 views  |  0 comments | 24 tweets | 16 linkedin
Alternative finance sector set for explosive growth

Alternative finance sector set for explosive growth

07 November 2014  |  13102 views  |  0 comments | 21 tweets | 18 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.nextgenbanking.co.ukRegister for the webinarVisit www.vasco.com

Top topics

Most viewed Most shared
Ripple makes new connections to emerging marketsRipple makes new connections to emerging m...
12671 views comments | 16 tweets | 10 linkedin
hands typing furiouslySome Interesting Applications Of The Inter...
10835 views 4 | 9 tweets | 1 linkedin
Basel Committee outlines disruptive fintech scenariosBasel Committee outlines disruptive fintec...
9334 views comments | 15 tweets | 26 linkedin
Investment Association sets up fintech accelerator for asset managersInvestment Association sets up fintech acc...
8716 views comments | 19 tweets | 10 linkedin
R3 creates Legal Centre of Excellence for blockchain technolgyR3 creates Legal Centre of Excellence for...
8637 views comments | 11 tweets | 14 linkedin

Featured job

Find your next job