• MarketInvoice is first fintech to partner with Euler Hermes in the UK.
• Euler Hermes will offer credit insurance policy to MarketInvoice customers to protect them from impact of bad debt.

Business finance company MarketInvoice has established a partnership with Euler Hermes, the global leader in trade-credit insurance, which will provide credit insurance policies to customers of MarketInvoice in safeguarding their businesses.

With Euler Hermes credit insurance, MarketInvoice customers who use invoice finance solutions will have the assurance that they are protected in the event their customer becomes insolvent or fails to pay within the agreed terms. Additionally, the Risk Prevention tool that monitors a company’s financials will allow MarketInvoice customers a forward view on their debtors that will improve future trade decisions.

Ilya Kondrashov, COO and co-founder of MarketInvoice commented: “As a fintech business, we look to partner with like-minded businesses who are competitive, agile and friendly. Euler Hermes is a perfect fit for us. The underlying aim of this partnership is to enable companies of all sizes to trade with confidence at home or abroad. This is the joint mission of our businesses and we aim to deliver this for our customers. As Brexit dawns, this partnership arrangement will provide our customers the confidence to expand sales to new buyers and markets.”

Milo Bogaerts, CEO Euler Hermes UK and Ireland, said: “We live in uncertain times. Trade, investment and consumer spending are driven by confidence and uncertainty is the enemy of confidence. Businesses leaders need to plan ahead for how future risks like Brexit might impact them and their supply chains. Plus recent high profile corporate failures reinforce the need to be increasingly aware of the risks of late or non-payment for goods and services provided on credit. This is why MarketInvoice is our partner of choice to help businesses trade with confidence.”