- MarketFinance is a British business finance lender specialising in invoice finance, business loans and corporate finance solutions.
- The fintech has raised a total of £46 million in funding from Northzone, Santander, Barclays and Cogito Captial.
- Anil Stocker and Ilya Kondrashov and Charles Delingpole founded the company in 2011.
MarketFinance (formerly MarketInvoive) delivers business finance solutions using smart technology, backed by help from real people. Anil Stocker, Ilya Kondrashov, and Charles Delingpole, who previously worked in high finance, founded the company in 2011. They launched MarketFinance in response to the low levels of lending to SMEs by traditional high street banks and aimed to approach business finance differently. MarketFinance was the first company to allow businesses to borrow against individual outstanding invoices. Their ultimate aim remains to become the single source for all the finance needs of business leaders.
Since their foundation in 2011, MarketFinance has supported thousands of UK businesses, funding invoices and business loans worth £2,959,175,070. They currently have 160 employees in their offices in London and Manchester, including 48 new hires in 2019.
How Does It Work?
MarketFinance provides a smart east-to-use online platform that aims to take the admin burden out of financing. They deliver funding solutions to B2B companies across a range of sectors and sizes. MarketFinance supports companies looking for working capital to accelerate growth or start up a new project and those who need regular funding to keep up with ongoing financial commitments. MarketFinance looks at the cash flow or payment problems that a company faces, such as delayed invoice payments obstructing cash flow, and tries to find an intelligent financing solution. They provide a choice to those looking to fund their business, offering invoice finance, a business loan, or a combination of both. They work on finding finance solutions for companies so that the entrepreneurs can get on with growing their business.
MarketFinance received £45.8 million in funding from Barclays and Santander
In 2019, MarketFinance received a strategic investment from Barclays and Santander, raising £45.8 million in the Series B funding round. This gave them substantial capital to support growth and enabled them to distribute their services to Barclays’ large SME client base.
Later in 2019, the company rebranded, discarding the original name MarketInvoice, and becoming MarketFinance. They then expanded their products to offer business loans and corporate lending products. They now have a 4.5/5 rating on Trustpilot.
Recently, Market Finance put together a COVID-19 Impact Support Hub. It is updated daily with advice articles, relevant video content, government resources and more to provide support during these times of turmoil.
For more information, go to the MarketFinance webpage.