MarketInvoice reports record increase in demand for invoice finance

Finance company MarketInvoice has released figures showing a record increase in quarterly demand for invoice finance from UK businesses.

The figures showed that £196.2 million worth of invoices were funded in Q3 of 2017, with £74.1 million of this being funded in August alone, making it a record month for MarketInvoice, which provides invoice finance, funding and cash solutions for UK businesses.

Increase

The figures showed an increase in the value of invoices funded, with a year-on-year rise of 67 per cent from £117.6 million in the third quarter of 2016 to £196.2 million in the third quarter of 2017.

The figures come as MarketInvoice approaches a £2 billion funding milestone. The value of invoices funded by the company since it first launched in 2011 stands at £1.55 billion, with £495 million being funded in 2017.

MarketInvoice is looking to expand its services to enable the company to provide support to a wider range of businesses, including start-up companies and larger businesses, to help boost business growth.

Growth

MarketInvoice VP Finance and Strategy Nehal Mittal said that they are proud to be supporting British businesses, offering timely and effective working capital solutions, as they provide goods and services in the UK and internationally.

Mittal added that the July research from MarketInvoice found that over a third (38 per cent) of businesses were expecting a cash squeeze going into the third quarter and the fourth quarter of 2017, and this reflects the substantial growth in their funding levels.

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