P2P business platform MarketInvoice marks record trading day

By Moriah Costa on Wednesday 2 August 2017

Alternative Lending

The company had more invoice advances on 1 August than any other day.

The company had more invoice advances on 1 August than any other day.

The slow summer isn’t stopping MarketInvoice.

The P2P invoice finance platform had a record day of trading on the first day of what is normally a sluggish business month.

The trading platform saw £4.1m  in invoice advances to UK businesses on Monday, a record setting day for the firm.

Usually £3.2m is the average amount that is advanced in a day. The increase in trading is largely do to MarketInvoice Pro, an invoice discounting facility. The service offers business an open funding line against their outstanding invoices.

“This is an historic day for the business,” said Anil Stocker, CEO and co-founder of MarketInvoice.  “Current trends indicate that invoice finance is challenging overdrafts and loans as a means of filling the working capital void faced by many businesses across the UK.”

It has been a record few months for the funder. The firm, founded in 2011, had its best quarter in three months to the end of June, with invoices worth £161.9m in the second quarter, driven by a strong June.

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