MarketInvoice was launched in 2011 as the UK's first online marketplace for invoice factoring.
It has achieved great success in the five years since its creation, and has funded over £800 million worth of invoices to date.
MarketInvoice was started by Anil Stocker, Ilya Kondrashov and Charles Delingpole; of the three, Anil Stocker and Ilya Kondrashov remain, acting as CEO and COO & CFO respectively.
The duo have come from strong economic backgrounds - Anil Stocker worked with the Lehman Brothers Private Equity Group and Cogent Partners investment bank, and both Anil and Ilya Kondrashov have economics degree from Cambridge University. In 2012 the company was declared City AM's 'Innovation of the Year' winner, and in 2014 the business partners were named City AM's FinTech Kings.
MarketInvoice is a reliable option for small and medium-sized businesses to navigate cash flow challenges faster. Companies get paid 45 days faster on average when they use MarketInvoice, allowing them to fund new projects without having to wait for old invoices to be completed and paid. MarketInvoice is funded by the UK government's British Business Bank.
MarketInvoice assesses both parties in any and every transaction; this assessment ensures that both the invoice and the buyer are legitimate, and that invoices will be paid within the correct time-frame. This process allows confidence for everyone involved in the transactions, and also alleviates the risk that may come with other, non-assessed services.
Unlike with some other invoice factoring agents, MarketInvoice does not tie companies to an ongoing arrangement. This allows flexibility and means that small and medium sized businesses can continue to operate independently of investors.
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MarketInvoice offers transparent fees that can be customised to match your requirements. This means that you won't be caught out by unexpected costs and also that you will receive the amount that you need, without the pressure of borrowing either too much or too little. As MarketInvoice deals primarily with small and medium businesses, there is a limit to the amount of funding they will offer, although this is unlikely to affect the operations of the size of company that will use the service in most cases.
As with all other UK factors, MarketInvoice can only facilitate the factoring of invoices from UK registered companies. MarketInvoice can advance from £5,000 to £3,000,000, provided that each company involved in the transaction meets the eligibility criteria.
The costs involved in invoice factoring are dependent on the size of the company, and on the turnover. MarketInvoice customers typically pay between 1 and 3% on transactions, with 90% of the amount usually paid within 24 hours of your application.COMPARE PRICES NOW