"Featuring on this panel will broaden our reach and help even more businesses achieve their goals."
Business finance company MarketInvoice is the first invoice finance provider to join NatWest’s Capital Connections panel.
MarketInvoice joins a select group of alternative finance firms on the Capital Connections panel, which helps SMEs to access alternative sources of capital after being unable to secure traditional financial backing.
Business customers are signposted to the panel of firms which includes equity crowdfunding, marketplace lenders and now invoice financing.
MarketInvoice helps businesses get paid faster by unlocking cash tied up in unpaid invoices. Businesses can choose to fund specific invoices or their whole ledger, based on funding needs.
In 2017, MarketInvoice almost doubled the average amount advanced to UK businesses to £1.14m from £606,000 in 2016.
Anil Stocker, CEO and co-founder of MarketInvoice, commented: “Featuring on this panel will broaden our reach and help even more businesses achieve their goals. Companies across the UK are choosing to diversify funding sources with more than £4b 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% year on year and stand at just over £23b. This is the highest figure ever.”
“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.”
Alison Rose, CEO of commercial and private banking at Natwest, added: “We’re excited to welcome our first invoice finance provider to Capital Connections. MarketInvoice has serviced a large number and wide variety of businesses. Their robust service, quick and easy to use solutions, provide another distinct choice for the many innovative businesses in the UK. As the biggest supporter of British business, we understand that traditional funding routes are not always the best option for fast growing start-ups. Through Capital Connections we’re able to signpost a broad choice of funding options through its impressive range of alternative lenders.”