MarketInvoice has secured a £5 million investment from Northzone and Paul Forster, Co-Founder and CEO of Indeed.com. Northzone will join the Board and will play an active role in guiding the company towards future success.
Northzone is a technology investment fund and to date has invested in about 100 different tech companies. Its portfolio currently includes a range of tech companies such as, Spotify, Avito.ru, Trustpilot and WideSpace. Jeppe Zink, General Partner at Northzone, commented:
“We are excited about partnering with MarketInvoice, who have already established themselves as a leading player in the UK peer-to-peer lending market. Invoice finance is a huge opportunity for disruptive online businesses and we look forward to being part of MarketInvoice’s ongoing success story.”
Paul Forster added:
“Just as Indeed.com has redefined the recruitment industry, MarketInvoice is disrupting business finance with a best-in-class marketplace for working capital. The UK is emerging as a leader in financial technology and MarketInvoice is at the forefront.”
There's much to be gained for the platforms in building out their boards. Enlisting eminent figures can boost the profile of a platform whilst adding a wealth of expertise. MarketInvoice isn't the first to have made high profile appointments this year. RateSetter added Alan Hughes, former CEO of First Direct, to its board and Funding Circle welcomed Robert K. Steel, CEO of Perella Weinberg Partners. Experience is highly sought after, and can add a lot of value to these rapidly growing platforms.
Anil Stocker, Co-Founder and CEO of MarketInvoice, also commented:
“Whilst we’ve grown significantly over the past two years, we have plans and ambitions to go much further. By bringing Northzone and Paul Forster on board we are in a strong position to achieve our ambitious goals. Their experience in scaling businesses will be invaluable for MarketInvoice.”