Cookie Consent

By clicking “Accept”, you agree to the storing of cookies on your device to enhance site navigation, analyse site usage, and assist in our marketing efforts. View our Privacy Policy for more information.

Record breaking Q2 at MarketInvoice

Kriya Team
July 5, 2017
3
min read
Share this:

MarketInvoice funds invoices from UK businesses worth £161.9m in Q2 2017 – record quarterly funding since launch.

MarketInvoice funds invoices from UK businesses worth £161.9m in Q2 2017 – record quarterly funding since launch.
  • MarketInvoice funds invoices from UK businesses worth £161.9m in Q2 2017 – record quarterly funding since launch
  • £5,196 funded every minute in Q2 2017. June 2017 was a record-breaking month, with total volume of £64.2m.
  • MarketInvoice beats Q1 2017 performance, taking cumulative lending to over £1.3b

5th July 2017, London: MarketInvoice, the online business finance company, has registered its best quarter and record month of invoice finance funding since launching in 2011. In surpassing record figures reported in Q1 2017, MarketInvoice funded invoices worth £161.9m in Q2 2017 providing UK business with critical working capital. June 2017 proved to be the company’s busiest ever month funding invoices worth £64.2m.

The value of invoices funded is up 57.2% from £103m (Q2 2016) to £161.9m (Q2 2017), and the current cumulative value of invoices funded stands at £1.34b.

MarketInvoice Pro, the confidential invoice discounting facility, launched in February 2017 and, has in large part, driven the growth. The facility, which offers businesses an open funding line against their outstanding invoices, was the first new service launch by MarketInvoice since it was established in 2011.

Anil Stocker, CEO and co-founder of MarketInvoice commented:

“This is a positive achievement for the business and is testament to our customer focused approach and our team members who work hard to create the best experience for businesses and investors using our platform.”

“Our new invoice finance facility, MarketInvoice Pro, launched in February 2017, has driven much of the increase in our funding amounts, and appeals to businesses that have regular need to access working capital to hire more staff, launch new products, and pay suppliers.”

“According to recent industry statistics, the use of invoice finance by businesses as a means to cover working capital has increased 14% over the past year to £21.9 billion at the end of Q1 2017. MarketInvoice now represents the easiest way for businesses to access this finance whether it is to fund single invoices or set up an invoice finance facility. We’re looking forward to breaking more records in the coming months.”

MarketInvoice’s main strategic ambition is to broaden its reach to be able to support a wider range of businesses, from start-ups to larger businesses looking to scale up. The company aims to help even more companies get paid faster by financing their invoices, so business owners can save time and focus on running their business.

Your Kriya Payments story starts here

Please fill out the form and a member of our team will be in touch

Your Kriya Lending story starts here

Please fill out the form and a member of our team will be in touch

Your Kriya story starts here

Please fill out the form and a member of our team will be in touch

Explore related posts

Company News
Sep 21, 2021
£280 million debt and equity raise at MarketFinance signals positive endorsement by investors for businesses as UK growth forecasts are revised up

MarketFinance in pole position as it raises £280m and is approved for Recovery Loan Scheme lending

£280 million debt and equity raise at MarketFinance signals positive endorsement by investors for businesses as UK growth forecasts are revised up

Kriya Team
3
 min read
Read more
What's new at Kriya

What's new at Kriya?

At Kriya, we understand the stresses and frustrations that small businesses go through every day. While we can’t fix everything, we can give you the financial firepower you need to supercharge your cash flow. We believe strongly that the more time you save on admin and finance-related tasks, the more hours you can pour into your business. And that’s exactly where your time should go.

Freya Steveni
 min read
Read more
In the news
Sep 23, 2020

MarketFinance awarded £10m grant to bring choice and competition in supporting more businesses

The fintech business lender will expand services to 3.5m underserved SMEs, launch new digital lending products and create 200 jobs across the UK

Kriya Team
4
 min read
Read more