The UK fintech raised £56 million in equity and debt funding.
MarketInvoice, a provider of invoice financing solutions based in the United Kingdom, has managed to secure £56 million ($71.9 million) in equity and debt funding, the company announced this Monday. Part of this cash injection came from a Series-B Funding Roundled by Barclays and Fintech fund Santander InnoVentures, which raised £26 million in new equity funding for the company.
Northzone, a European venture fund and existing investor in the company, also played a large part in the funding round. Viola Credit, a technology credit fund, which also participated in the equity round, will provide MarketInvoice with a debt facility of up to £30 million. This is to help the company scale its business loans solution, the statement said.
Commenting on the motivation for participating in the funding round, Ian Rand, the CEO of Barclays Business Bank, said: “Collaborating with fintech companies like MarketInvoice is an integral part of Barclays’ strategy for accelerating growth. This investment demonstrates our commitment to the partnership we announced last summer which offers hundreds of thousands of our SME clients access to even more innovative forms of finance, boosting cash flow and competition in the market.”
MarketInvoice plans to deepen strategic partnerships in the UK
MarketInvoice is the largest invoice finance platform in Europe, having funded invoices and business loans to UK companies worth more than £2 billion. The cash injection will be put towards deepening the company’s strategic partnerships in the UK, increase its team and brand awareness, the company said.
Furthermore, the fintech firm will also use the funding for its plans to launch cross-border fintech-bank partnerships, which will support businesses with access to their lending solutions.
“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,” noted Anil Stocker, the Co-founder and CEO of MarketInvoice.
“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,” he added.
MarketInvoice, a provider of invoice financing solutions based in the United Kingdom, has managed to secure £56 million ($71.9 million) in equity and debt funding, the company announced this Monday. Part of this cash injection came from a Series-B Funding Roundled by Barclays and Fintech fund Santander InnoVentures, which raised £26 million in new equity funding for the company.
Northzone, a European venture fund and existing investor in the company, also played a large part in the funding round. Viola Credit, a technology credit fund, which also participated in the equity round, will provide MarketInvoice with a debt facility of up to £30 million. This is to help the company scale its business loans solution, the statement said.
Commenting on the motivation for participating in the funding round, Ian Rand, the CEO of Barclays Business Bank, said: “Collaborating with fintech companies like MarketInvoice is an integral part of Barclays’ strategy for accelerating growth. This investment demonstrates our commitment to the partnership we announced last summer which offers hundreds of thousands of our SME clients access to even more innovative forms of finance, boosting cash flow and competition in the market.”
MarketInvoice plans to deepen strategic partnerships in the UK
MarketInvoice is the largest invoice finance platform in Europe, having funded invoices and business loans to UK companies worth more than £2 billion. The cash injection will be put towards deepening the company’s strategic partnerships in the UK, increase its team and brand awareness, the company said.
Furthermore, the fintech firm will also use the funding for its plans to launch cross-border fintech-bank partnerships, which will support businesses with access to their lending solutions.
“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,” noted Anil Stocker, the Co-founder and CEO of MarketInvoice.
“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,” he added.
Why Are Aussies Clinging to Their Credit Cards in the Age of Digital Wallets?
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
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Looking to expand your network in #Africa?
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Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
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The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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