MarketInvoice, the UK based peer-to-peer business lender, announced that it has facilitated over £500 million in funding for high-growth UK businesses since its launch in 2011. They also secured an additional £5 million investment from the British Business Bank.
The average loan size is £60k and all invoices listed for sale on MarketInvoice have been funded in full, the vast majority within seconds of being listed. Peter Wilson, CEO of British Business Bank Investments, added: “Our initial investment of £5 million in 2013 has since enabled over £50m of invoice finance to be supported through MarketInvoice’s platform. “We work to encourage greater choice and diversity in small business finance markets and I am pleased that we are able to commit a further £5m, helping even more small and medium sized British businesses secure the vital short-term working capital finance that they need to grow, with the resultant positive effect on the wider UK economy.” MarketInvoice has recently completed a $10m (£6m) Series A funding round.