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MarketInvoice sees record-breaking Q2




By Daniel Lanyon on 5th July 2017

https://goo.gl/CR9tmA

The firm is making a habit of breaking records in 2017, beating its Q1 volume growth. 

 

 

Invoice funder MarketInvoice has clocked up its best quarter in the three months to end of June as well as record month of volume since launching in 2011.

 

The growth builds on its previous record set in Q1 2017, with the firm funded invoices worth £161.9m in Q2 2017 providing UK business with critical working capital.

 

June 2017 was the company’s busiest ever month funding invoices worth £64.2m. The value of invoices funded is up 57.2 per cent from £103m (Q2 2016) to £161.9m (Q2 2017), and the current cumulative value of invoices funded stands at £1.34bn.

 

MarketInvoice Pro, the confidential invoice discounting facility, launched in February 2017 and, has in large part, driven the growth, says Anil Stocker, CEO and co-founder of MarketInvoice.

 

The facility, which offers businesses an open funding line against their outstanding invoices, was the first new service launch by MarketInvoice since it was established in 2011.

  

“Our new invoice finance facility, MarketInvoice Pro, launched in February 2017, has driven much of the increase in our funding amounts, and appeals to businesses that have regular need to access working capital to hire more staff, launch new products, and pay suppliers.”

 

Quoiting recent industry statistics, Stocker says the use of invoice finance by businesses as a means to cover working capital has increased 14 per cent over the past year to £21.9bn at the end of Q1 2017.

 

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