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London, with its huge FinTech hub, is continuing to attract investment and that is no better represented today than with the news that MarketInvoice, arguably Europe’s largest online invoice finance platform, has raised £26M ($33.5M) in a Series-B funding round led by Barclays and fintech fund Santander InnoVentures, alongside participation from European VC Northzone, which previously invested. In August last year Barlcays took a minority equity stake in the company and rolled out the service to its large SME client base.
Technology credit fund Viola Credit, which also participated, will additionally provide a debt facility of up to £30m to help scale the MarketInvoice business loans solution which is part of its core invoice finance solutions.
Funding - MarketInvoice - Market - UK - Partnerships
The funding will be used to deepen MarketInvoice’s market in the UK and launch what it called “cross-border fintech-bank partnerships” which it would be reasonable to conclude would include expanding into new markets.
Established in 2011, MarketInvoice has funded invoices and business loans to UK companies worth more than £2 billion, and they claim to be Europe’s largest online invoice finance platform.
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