The firm is the first invoice finance provider to join the bank’s Capital Connections panel.
NatWest’s business and commercial customers can now access invoice finance powered by MarketInvoice.
The fintech lender joins a host of other alternative finance firms on NatWest’s Capital Connections panel; which helps SMEs to access alternative sources of capital after being unable to secure traditional financial backing.
These include areas such as equity crowdfunding, marketplace lenders and now invoice financing.
MarketInvoice was launched back in 2011 and last month reached the milestone of funding £2bn worth of invoices and business loans to UK companies
During this time over 90,000 invoices have been funded to 93 countries. In 2017, MarketInvoice almost doubled the average amount advanced to UK businesses - from £606,000 in 2016 to £1.14m.
“Companies across the UK are choosing to diversify funding sources with more than £4bn advanced through alternative finance firms. Furthermore, the invoice finance [and asset-based lending] sector is providing more finance to UK businesses than ever before. Funding volumes are up 5 per cent year on year and stand at just over £23bn. This is the highest figure ever,” he said.
“As the first invoice finance provider on the panel, we will be able to showcase how invoice finance can help businesses of all sizes and work with them to find the right solution. Enhancing access to borrowing is essential for jobs and economic growth.”
MarketInvoice is the ninth alternative finance provider to join Capital Connections, alongside Funding Circle, Assetz Capital, Start Up Loans, Seedrs, Together, iwoca, Esme Loans – part of NatWest - and NatWest Social & Community Capital.
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