P2P online invoice marketplace MarketInvoice has just closed both its best month and best quarter in its six-year history.
£129.6 million of invoices were funded in Q1, up from £81.1 million in 1Q16. £54.7 million of invoices were funded in March.
MarketInvoice Pro is credited with fueling much of that growth. The confidential invoice discounting facility was launched this February. It offers an open funding line against outstanding invoices.
Cutting edge technology is a ket success driver, MarketInvoice cofounder and CEO Anil Stocker explained.
“Our tech advantage using innovative AI and machine learning capabilities means we are able to sync information faster and our analysts are able to make better, more qualified decisions quicker for businesses. This achievement mirrors industry trends where asset-based finance is increasingly taking market share from traditional forms of working capital options. Businesses are looking beyond their obvious ‘go-to’ options and realising they can use invoice finance in an effective and meaningful manner”