UK SMEs Access £100m of Funding Through MarketInvoice

UK SMEs Access £100m of FundingUK SMEs Access £100m of Funding Through MarketInvoice PR Newswire LONDON, December 23, 2013 MARKETINVOICE, the online platform where SMEs can raise working capital by selling their invoices to investors, has announced that it has now facilitated £100m in funding since launch. In the past year, volume through MarketInvoice has grown 20% month-on- month, with October being the first time more than £10m was traded through the platform in a single month. £65m has been traded in 2013 alone, following £36m traded in 2012 and £4m traded in 2011. Since launch in February 2011, SMEs from across the UK have raised funding via thousands of transactions on the MarketInvoice website, with the biggest single invoice sold being worth £1m. The SMEs using MarketInvoice come from all sectors and include Facebook app developers, structural engineers and cupcake makers. The average size of the invoices sold is £80,000 and 100% of invoices listed for sale on MarketInvoice have been funded in full - many of them within seconds of going live. In August 2013, the UK Government-backed British Business Bank began investing in SME invoices through MarketInvoice as part of its Business Finance Partnership, which helps to support new and alternative lending models for smaller businesses. This investment will equate to approximately £40m in SME funding put through MarketInvoice over a 12 month period.