"Everyone at MarketInvoice is both delighted and honoured to have been included in the Business Finance Partnership. We hear every day how UK SMEs are finding it increasingly difficult to access critical working capital and therefore the Government's investment via our platform is both a hugely positive and timely development.
"This investment is going straight into the real economy; funding businesses that are hiring, growing, exporting and forging ahead with new products and services across a wide range of sectors. Despite the uncertain economic climate, SMEs using our service remain determined to push ahead, and the Government's funding will go some way to helping them achieve this."
About MarketInvoice ( http://www.marketinvoice.com)
MarketInvoice is the Europe's first online funding platform allowing SMEs to selectively sell their long-dated invoices to a pool of registered investors. Businesses sign up to MarketInvoice, and then list for-sale invoices due to blue-chip debtors with payment terms of between 30-120 days. Investors compete to provide the funding at the lowest cost, with winning buyers advancing cash to SMEs within 24 hours. Investors make their returns by charging SMEs a small discount fee on the invoice sold of approximately 1%, while MarketInvoice charges Sellers a one off, up front service charge of between 0.5-2.5% of the invoice sold.MarketInvoice allows SMEs to post invoices for sale as and when they choose, confidentially and with no lock in periods, service charges or personal guarantees required. Since launching in 2011, MarketInvoice has channelled over £65m in funding to SMEs via thousands of transactions on its platform. In March 2013, the company was included in the UK Government's "Business Finance Partnership", a development which will, over the course of a year, see SMEs benefit from approximately £40m of government funds through MarketInvoice. Twitter: @marketinvoice