June 15, 2015
Problem identification: For any startup, company cash flow is a matter of concern. The majority of a startup's potential clients ask for long-term payments with regard to their small suppliers. In other words, small suppliers incur costs and get paid after a time lag of a few months. The business bears different kinds of impact, like ability to expand, staff hiring, competitive advancement, etc.
Solution: Founded in 2011, MarketInvoice is a UK-based FinTech startup and is a disruptor of traditional bank finance. The company is an online peer-to-peer lending platform where companies can borrow against unpaid invoices. It is an online marketplace to fund working capital to SMEs; large institutional investors provide working capital to small businesses by acquiring their unpaid invoices. This way, small businesses get cash in a short span of time which in turn is risk averse. The company is one of a kind in the UK; it uses cutting-edge technology to bring investors and sellers together. The company provides commercial finance has no monthly fees and is flexible.
Since its launch, the company has lent $612 million and lending volumes are growing by an average of 30% each month.
The company's mission is to modernize the way in which SMEs finance their working capital and is taking steps to bring innovation to the banking industry.
Founder Anil Stocker worked at Lehman Brothers before it collapsed while his Co-founder Ilya Kondrashov is a Goldman Sachs alumni.
$10.4 million in two rounds from three investors.
Most recent funding:
$7.8 million venture on December 3, 2014.