Earlier this year, we kicked off the National Rollout of our partnership with Barclays to give even more UK SMEs easy access to working capital. Since then, we’ve enabled over 100 customers to get on with running their business – instead of having to worry about cash flow. And this is just the beginning!
There was an overwhelming sense of excitement for both the MarketInvoice and Barclays teams when our partnership launched. The feeling that we’d started something truly game-changing was like an electric charge running through all of our offices. As you can imagine, funding our first business through the partnership was a moment of celebration for all of us.
The business was STS 2000. They’d just won contracts with two top-name clients who pay on 60-day terms and knew they’d need funding to bridge the gap in cash flow. We worked with Ben, their Barclays Relationship Manager, to get STS 2000 set up with invoice finance. It’s a simple solution they can use quickly and easily access funds as and when they need to. It was great for us to hear from Malcolm, their MD, that we’d helped the business cover upfront supplier costs and pay staff salaries on time.
“The cash flow squeeze we were dealing with was really stressful,” says Malcolm. “So it was a massive relief to get it sorted quickly and get back to business as usual. The team at MarketInvoice has made the whole thing very easy.”
Since then we’ve worked with all manner of amazing SMEs, from temp recruiters and tech start-ups to construction businesses, manufacturers and more. The reach of our partnership spans from London to Lincolnshire through to Swansea, Newcastle, Edinburgh and Cardiff to name a few. We’ve partnered with Barclays to give businesses access to funding for everything from day-to-day costs and wages, to kicking off new projects and growth.
Last week, we celebrated funding our 100th customer together; a manufacturing business based in North East England. They’re growing quickly, taking on bigger projects than ever before. Because the projects come with a lot of upfront material costs, they need a funding solution they can use to pay their suppliers before getting paid by their clients. Philip, their Barclays Business Manager, worked with Dominic from MarketInvoice on an invoice finance facility that runs alongside their Barclays business loan.
“I’m really pleased that I was able to support the 100th business funded through our partnership,” says Philip. “Invoice finance is a great solution for my client who’s looking to grow their business aggressively in the next 12 months because the facility will grow with them.
Working with MarketInvoice has been a fantastic experience from the outset and the service they offer to clients is exceptional. I’m excited to carry on our partnership and to support more UK businesses with this great solution and service they provide!”
We’re proud to partner with Barclays, a bank whose commitment to UK SMEs runs just as deep as our own. For us at MarketInvoice, it’s about celebrating the entrepreneurs, founders and small business owners who are building the world we all want to live in.
This collaboration is a key part of Barclays plans to invest in new business models for growth. For MarketInvoice, it’s about broadening our reach to even more businesses across the UK. Barclays Bank UK PLC has taken a minority stake in MarketInvoice and plans to fund invoices through our platform in the future. A portion of the revenue will be shared with Barclays Bank UK PLC.