MarketInvoice aims to provide £1bn of funding to UK businesses by the end of the year
MarketInvoice has today announced a £7.2m investment led by MCI.TechVentures Fund of MCI Capital, a listed Polish private equity group.
This marks the first major fundraise from a peer-to-peer platform since the Brexit vote, with a European venture backer investing directly into the leading UK fintech company.
MarketInvoice, Europe’s largest peer-to-peer online invoice finance platform, will use the funds to cement its position as the biggest player in the UK, accelerate marketing, and continue developing its products around customer needs.
The platform has already provided £850 million worth of funding to UK businesses, and is set to reach the £1 billion before the end of the year.
As the peer-to-peer sector consolidates, MarketInvoice will now look to broaden its reach by targeting a wider range of businesses, from start-ups to mid-sized corporates. This will ensure even more companies have the ability to get paid faster by financing their invoices, allowing business owners to save time and focus on what’s most important – running their business.
Sylwester Janik, Senior Partner at MCI Capital said:
“MarketInvoice is a prime example of a truly innovative business that’s redefining an age-old sector of traditional finance. They provide vital working capital to a continuously underserved segment of customers, where incumbents are reluctant to innovate.
“After iZettle and Azimo, this investment is a natural continuation of our fintech focused strategy, and a great addition to our fintech portfolio. We see a massive opportunity for MarketInvoice to further consolidate its dominant market position in a rapidly growing sector, as well as lay the foundations for future geographical expansion.”
Anil Stocker, Co-founder and CEO of MarketInvoice said:
“We’re pleased to bring on a new European investor in MCI Capital to further fuel our growth, demonstrating there is still real appetite for investment in UK fintech. MCI have a proven track record as growth backers of some of Europe’s most exciting tech companies, so we’re delighted to be working together.”