MarketInvoice, the world’s largest peer-to-peer invoice finance platform has joined the Xero marketplace as a founder member of the business finance category.
Listed in the business finance category, MarketInvoice is the most established invoice finance platform for Xero’s 164,000 subscribers. Having funded over £1.1bn against 70,000 invoices since 2011, MarketInvoice is the online leader in providing cash flow solutions to businesses across the UK.
The integration with Xero will help more businesses make smarter decisions, improve cash flow, get paid faster and access capital quickly. Accountants and bookkeepers using Xero can seamlessly connect with MarketInvoice, ensuring the integrity of the data, to offer an unparalleled value-added and trusted service to their clients aiding investment and growth.
MarketInvoice has already helped thousands of UK businesses and supports over 18,000 jobs in the UK by providing meaningful and timely cashflow solutions driving business growth. Businesses using MarketInvoice have reported revenue growth of 35%1 year-on-year as they use the service.
A significant number of businesses that use the MarketInvoice platform already employ cloud-based accounting software. This connectivity makes for faster integration, data capture, analysis and fundamentally, funding decisions for businesses.
Anil Stocker, co-founder and CEO said: “We’re excited to be launching this finance integration with Xero – a company that shares much of our DNA in finding new ways to help businesses access capital.
“Our technology allows businesses to integrate directly with the Xero platform ensuring a fast set up, credit decisions and a smooth process to manage the company’s on-going funding drawdowns. This is yet another step in our journey in using technology to make finance easier for businesses.”
“The synergies between our product and Xero mean that accountants and bookkeepers will be able to engage with us to deliver cutting-edge financial solutions to their clients.”.
Gary Turner, managing director UK of Xero said: “Small business is the lifeblood of the UK economy – they are central to delivering economic growth and prosperity. We want all small businesses to thrive through better tools, information and connections.”
MarketInvoice’s main strategic ambition is to broaden its reach to be able to support a wider range of businesses, from start-ups to businesses looking to scale-up. Ensuring that even more companies can get paid faster by financing their invoices allowing business owners to save time and focus on what’s most important – running their business.