Based in London, MarketInvoice offers invoice financing and business loan solutions for companies in need of immediate cash flows. Europe’s largest online invoice finance platform has raised €29.4 million in a Series-B equity funding round led by Barclays and fintech fund Santander InnoVentures, with participation from existing investor European VC Northzone. The investment from Barclays is a signal of its commitment to the partnership announced in August last year.
Technology credit fund Viola Credit, which also participated in the equity round, will provide debt financing of up to €34 million to help MarketInvoice scale its business loans solutions.
The company intends to use the funds to boost its business in the UK as well as development of more strategic partnerships — with a particular focus on cross-border tie-ups. The startup further plans to grow its team, and increase the awareness of its business finance solutions.
MarketInvoice enables small-to-medium enterprises to sell their unpaid invoices through an online platform and to gain access to working capital loans.
After the collapse of Lehman Brothers, Anil Stocker, the CEO and co-founder of MarketInvoice and former Lehman Brothers employee, decided to start his own FinTech company. Since its founding in 2011, the startup has financed invoices and business loans worth more than €2.6 billion. The company has made it its mission to “help as many entrepreneurs as possible gain access to finance”.