From ?20k a Month to ?2 Million a Month: Shoreditch Internet-Finance Startup MarketInvoice Reports 100 Times Growth in First Year of Trading

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March 15, 2012
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From GBP20k a Month to GBP2 Million a Month: Shoreditch Internet-Finance Startup MarketInvoice Reports 100 Times Growth in First Year of Trading

LONDON, March 15, 2012/PRNewswire/ --

    MarketInvoice, the online marketplace for invoices, announced today that invoice
trading volume on its market-based platform increased 10,000% in their first year of
trading, with volume going from GBP20,000 in their first month of trading in February
2011, to GBP2,000,000 by the end of February 2012.

    This one hundred-fold growth indicates that small businesses across the UK are
embracing the ease of MarketInvoice's revolutionary "ebay for invoices" and are
recognising the MarketInvoice model as a reliable and effective method of managing cash
flow.

    Companies small and large - and in a wide range of industries - are using
MarketInvoice as a flexible, affordable source of selective invoice finance
[http://marketinvoice.com ], and more are joining every day - and are getting an average
of between 98 and 99 pence in the pound for their invoices, with auctions having a 100%
success rate. Most auctions close within 24 hours, with sellers receiving their funds the
next business day.

    Buyers, both institutional investors and high-net worth individuals, have flocked to
the platform: since the first auction launched in February 2011, over 8 million pounds
worth of funding has been channelled from these investors to small and midsize businesses,
providing a vital support to enable fast growing UK SMEs to keep expanding. Industries who
have found the online exchange particularly useful include manufacturing, construction,
professional services, business support, media and technology - all of these industries
have found the unique method of invoice discounting [http://marketinvoice.com ] useful.

    "MarketInvoice has completely changed the way I finance my company - when you can
decrease the amount of time invoices are outstanding from 60 days to five, it can be
totally game changing for a growing business like ours. I'm happy to say my business is in
the process of hiring new employees, something we wouldn't have been able to do without
affordable capital.

   
    - Aneesh Varma, Co-Founder of FabriQate (a mobile app development studio)

    "The incredible growth of MarketInvoice shows that there is tremendous appetite among
small and midsize businesses for access to affordable capital, and that appetite will
certainly grow in 2012, as the economy improves and more businesses recognize the benefits
of easy online invoice financing. We are anticipating another record-breaking year in 2012
- we had our first million pound day on March the 8th so from here the sky's the limit."

   
    - Anil Stocker, Founder, MarketInvoice

    About MarketInvoice

    Marketinvoice is the UK's first online trading marketplace allowing businesses to
selectively sell the invoices of large business customers to raise flexible working
capital. Businesses register on MarketInvoice, and then auction invoices due to be paid in
30, 60, 90 days, receiving cash in advance from global institutional investors who compete
to provide funding at the lowest cost. Since 2011, over GBP8 million has been channelled
to nearly 100 businesses. It is a new model of invoice finance [http://marketinvoice.com
].

    Cash funding for SMEs is provided through competitive auction from a wide range of
institutional buyers (investment funds, asset managers, family offices, high net worth
individuals). MarketInvoice serves to bring new capital into this market by creating a
standardised and secure trading environment. It encourages those SMEs that do not wish to
enter into traditional factoring [http://marketinvoice.com ] due to cost, contractual, and
reputational concerns, to selectively use the competitive marketplace at times when
short-term funding is desired or required. Importantly, using Marketinvoice is completely
confidential to a business' end customer and no notification is necessary. Companies
maintain control of their invoice collection procedures and customer relationships.

    The main advantages of using MarketInvoice can be summarised as follows:

   
    - Immediate funding (money arrives within 48 hours)
    - Complete confidentiality (non-disclosure to end customers, you preserve your
      valuable client relationships)
    - Complete flexibility (companies only raise finance against invoices they
      choose to sell, no requirement to assign whole debtor book)
    - No monthly minimum service fees, use the platform when you want, all fees are
      transactional
    - Price transparency
    - Extended scope (our buyer community is open to buy invoices not typically
      accepted by many factors and discounters)
    - Personal guarantees are not required, all asset debentures are not required
    - For young companies, no need to give up valuable equity to fund working
      capital

   
    For more information, please contact:
    Willard Foxton, Head of Comms, MarketInvoice
    W.Foxton@marketinvoice.com / M: +44(0)7796-886673 / T:  +44(0)207-0787621

Source: MarketInvoice Ltd

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