Lender secures £7.2m investment from European backer

Lender secures £7.2m investment from European backer




Peer-to-peer (P2P) invoice finance platform MarketInvoice has announced it has secured a £7.2m investment led by Polish private equity group MCI Capital.

MarketInvoice claims MCI’s investment is the first major example of fundraising from a P2P platform since the EU referendum.

Anil Stocker, co-founder and CEO of MarketInvoice, said: “We’re pleased to bring on a new European investor in MCI Capital to further fuel our growth, demonstrating there is still real appetite for investment in UK fintech.

“MCI [has] a proven track record as growth backers of some of Europe’s most exciting tech companies, so we’re delighted to be working together.”

MarketInvoice will use the funds to broaden its reach to a wider range of business, boost marketing and further develop its products.

The firm also announced the appointment of two senior hires with the addition of Lisa Gervis as chief marketing officer and Rupert Thorp as director of sales.

Meanwhile, Sylwester Janik, senior partner at MCI Capital, joins the MarketInvoice board.

Sylwester added: “MarketInvoice is a prime example of a truly innovative business that’s redefining an age-old sector of traditional finance.

“They provide vital working capital to a continuously underserved segment of customers, where incumbents are reluctant to innovate.”

Existing backer Northzone also increased its investment in the firm.

Founded in 2011, MarketInvoice claims to be Europe’s largest P2P invoice finance platform.

Since its launch, the platform has provided £850m worth of funding to UK businesses, and aims to reach £1bn before the end of 2016.

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