I’m delighted to announce that, since we opened for business in 2011, MarketInvoice has funded over £1 billion worth of invoices from UK businesses. We’ve achieved half of this within the past 14 months alone – a landmark that also represents the growing demand from small businesses for alternative lending products.
This is a huge milestone for us as a funding platform. We started the company to provide businesses with choice, flexibility and an easy-to-use funding solution – providing a far better service than they could get from their bank. I remember the excitement when the very first invoice was loaded onto the system and it truly is humbling to think that all of the work we’re doing is helping businesses grow, creating jobs and allowing business founders to realise their ambitions.
Over the past five years thousands of companies have accessed funding through our platform across over 20,000 transactions. Companies have been able to access funding from £10,000 to £3 million against invoices, licences and contracts to fund their working capital, which is vital to the success of small companies dealing with growing orders and long payment terms. This funding has supported fast growing companies to launch new products, hire more staff, and export to new markets.
Our whole team is proud to be supporting the backbone of the British economy – businesses doing great work in media, technology, design, construction, manufacturing, education, and many other sectors. This milestone is testament to the strength and success of businesses across the country.
I’d like to say a huge thank you to all of our customers – we’re very pleased to be supporting your business journey. In 2017 there will be even more innovations from MarketInvoice, as we continue on our mission to make invoice financing available to even more businesses across the UK.