London peer-to-peer lender MarketInvoice surpasses £500 million in fundraising

Innovator: MarketInvoice, founded by Anil Stocker, has received another £5 million investment from the British Business Bank

Jamie Nimmo

17 September 2015

London-based peer-to-peer lender MarketInvoice has now raised more than £500 million for UK businesses in just four years since its launch.

The company, which allows firms to sell unpaid invoices to investors to access funds more quickly, said the funding milestone had been reached across 8000 personal loans at an average of £60,000 each.

MarketInvoice, one of the stars of the flourishing London fintech scene, has also secured an extra £5 million investment from the British Business Bank.

The Government-backed development bank has now invested £10 million into the company’s platform.

The latest investment follows a £6 million fundraise last month to grow its product range.

Retail investors will soon be able to access the platform following the Government’s launch of the Innovative Finance ISA, which will allow tax-free investing in peer-to-peer finance from April 2016.

Anil Stocker, founder and chief executive of MarketInvoice, said reaching half a billion pounds of funding for small business was “a great achievement”.

He added: “This is just the beginning though; we know that financial services is changing and that businesses like ours are driving that change.

“We’re bringing new ideas and products to an industry which has been devoid of innovation."

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London peer-to-peer lender MarketInvoice surpasses £500 million in fundraising

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