MarketInvoice secures £45m from Banco BNI Europa
UK-based MarketInvoice has signed an agreement with Banco BNI Europa (BNI), which will now provide £45 million annually to fund working capital for SMEs on the platform.
MarketInvoice is now the world’s largest peer-to-peer online invoice finance marketplace, having funded over 70,000 invoices worth more than £1.2 billion since its launch in 2011. Today, the UK business has signed an agreement with Banco BNI Europa (BNI), which will now provide £45 million in funding annually on the marketplace to fund working capital for MarketInvoice customers.
BNI trialled an investment last year of £28.3 million, which went into funding SMEs on the platform seeking invoice finance. After the success of that trial, the bank is now ready to invest more to fuel SME growth via MarketInvoice. But BNI isn’t the only international investor that has expressed interest in supporting UK SMEs via MarketInvoice.
Overall, sums advanced to UK businesses from institutional investors via MarketInvoice have almost doubled over the last three years from £96.1 million to £176.2 million.
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Source: MarketInvoice secures £45m from Banco BNI Europa – GrowthBusiness.co.uk