Peer-to-peer (P2P) lender, MarketInvoice, as revealed that it has facilitated over £400 million in funding for UK businesses since its launch.
Launched in February 2011, the London-based tech platform has delivered over 6,200 individual loans to high growth businesses across the UK. All invoices listed for sale on MarketInvoice have been funded in full, the vast majority within seconds of being listed.
This year alone, nearly £100m has already been funded – an increase of 30% year-on-year.
The average loan size is £51,000, with companies often seeking funding to fuel their rapid growth and scale up. Companies such as drone manufacturers, software developers, design agencies and cake makers highlight the range of sectors which MarketInvoice caters to.
An initial £5 million investment, made in August 2013 by the UK Government-backed British Business Bank, has now funded almost £50 million for SMEs.
Anil Stocker, CEO and Co-Founder of MarketInvoice, said: "The completion of £400 million of business funding is an important milestone for MarketInvoice. Not only have we helped over 1,000 individual, high growth UK businesses, but we have delivered a consistently low 0.04% loss rate for investors, which is unparalleled in peer-to-peer business lending.
"Our platform continues to be win-win, delivering easily accessible, affordable peer-to-peer funding for exciting UK companies, ensuring a stable yield for investors and contributing to the UK economy by preventing viable businesses from falling foul of avoidable cash flow issues.
"The UK business community is fast realising that our service can help companies at all stages of growth, from start up to scale up and beyond. We are continuing to see more and more businesses use our service and already have our sights firmly set on hitting the milestone of £1 billion of funding for businesses."
