On one day in July, this London firm channelled £4.1m to UK SMEs, which use its platform to borrow cash against unpaid invoices. MarketInvoice’s partners include the British Business Bank and Banco BNI Europa. It says these partnerships have helped it facilitate over £1.4bn in cash advances since 2011; and it now lends on average £15,000 a minute. MarketInvoice is run by founders Anil Stocker, 33, and Ilya Kondrashov, 32; Zopa’s founder, Giles Andrews, joined as chairman in March. It has raised a total of £15m from venture capital and angel investors, and it expects to have facilitated cash advances totalling £2bn by the end of 2017. MarketInvoice takes a small commission on the value of each invoice, and sales of £4.4m in 2016 are set to grow to £6m this year.
This profile reflects the company at time of publication and does not reflect any changes that may have subsequently occurred. Fast Track and its sponsors do not endorse, guarantee or recommend investment in any of the companies.