The Peer-to-Peer Finance Association is going from strength to strength. They have now added Market Invoice – the world’s first and largest invoice trading platform – to their ranks.
Founded in 2011, Market Invoice provides UK SMEs with fast, flexible and transparent access to working capital. Businesses using the platform can selectively trade their unpaid invoices online with a global network of investors. More than £130m has already been advanced via the platform to date. The UK Government has taken notice, and is now using Market Invoice as a method of channeling funds to SMEs.
Anil Stocker, CEO of Market Invoice, commented:
“We're excited to be joining the Peer-to-Peer Finance Association. The work of this body is key in ensuring that our innovative, disruptive and fast-growing sector has the right foundations to continue thriving. The UK stands at the forefront of global financial technology innovation and to make a meaningful long-term difference to customers all members need to maintain the highest standards of client service, ethics and protection. The Association's commitment to these principles is clear, and we look forward to contributing to the mission.”
Christine Farnish, Independent Chair of the P2PFA, said:
“MarketInvoice is a leading p2p player with a great product that is shaking up and improving the UK's business finance market. We are delighted to welcome them into the P2PFA. We now represent not only 95% of all peer-to-peer lending but over 75% of peer-to-peer invoice trading as well. These two types of alternative finance show huge promise in terms of providing attractive new ways of channeling funds to SME businesses to help boost economic growth.”
The P2PFA was established in order to ensure that the emerging p2p sector maintains the highest standards of conduct to benefit both businesses and consumers. All P2PFA members must adhere to the Association’s rules and demonstrate high standards of business practice. The annual P2PFA Conference was held last week – bringing some of the best minds in the space to bear upon its biggest issues.