London-based fintech startup MarketInvoice raises €63M funding from Barclays and Santander

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MarketInvoice, Europe’s biggest online invoice financing platform, has got a total of €63 million to further develop its products. Notably, the Series-B funding round was led by Barclays and Santander InnoVentures alongside the participation of Northzone, which had invested in companies like Spotify, Trustpilot and fellow fintech lender, Zopa.

Also, Viola Credit, the leading private credit fund in Israel, will provide a debt facility to the startup. Certainly, the debt facility will help MarketInvoice expand its business lending solutions.

What will happen to the funds?

Anil Stocker, Co-founder and CEO of MarketInvoice, said: “This investment is perfectly timed for the company. The quality of investors we are bringing in through this funding round is a real testament to the whole team at MarketInvoice and the value we are building. We’re excited to develop our finance solutions further and become the trusted funding partner for ambitious entrepreneurs.

By collaborating with bank partners, we will be reaching many thousands of companies here in the UK and abroad to provide them with their business finance needs. We aim to invest in technology, data and strategic partnerships, to take MarketInvoice to the next level.”

MarketInvoice and Barclays bond!

Earlier, MarketInvoice used to fund many of its loans through peer-to-peer investments from retail investors. But now, it relies on institutions such as banks and family offices for around three quarters of its funds. In 2018, Barclays grabbed an equity stake in MarketInvoice and launched the service to its large small and medium enterprise client base. This step was part of a strategic partnership that will see the bank’s clients gain access to MarketInvoice’s invoice finance solutions.

What is MarketInvoice?

MarketInvoice is a London-based financial technology startup that specialises in invoice financing. It allows small- and medium-sized businesses smooth out cash flow by borrowing against money they are owed by customers. After being founded in 2011, MarketInvoice has financed invoices and business loans worth more than €2.6 billion.

The startup has helped thousands of companies across the United Kingdom. Funding over 170,000 invoices, it has also supported over 15,000 UK jobs by providing financial aid that helped businesses grow and expand their operations.

Further, MarketInvoice aims to develop more strategic partnerships in the U.K. The startup also has set its objective to grow its team, and increase awareness about business finance solutions. Moreover, the company is planning to launch cross-border fintech-bank partnerships to support more businesses with access to their lending solutions.

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