Barclays acquires stake in London fintech business MarketInvoice

Aug 7, 2018 · bdaily.co.uk

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Barclays has acquired a significant minority stake in fintech business MarketInvoice, Europe’s largest online invoice financing platform, in a deal that "is set to transform the way SMEs in the UK manage cash flow and accelerate growth."

The new partnership is a key part of Barclays’ plans to invest in new business models for growth, and MarketInvoice’s aim to broaden its reach across the UK.

Founded in 2011, MarketInvoice has funded invoices worth more than £2.7bn, boosting cash flow for thousands of UK businesses.

Barclays is the first high street bank to enter into a partnership with MarketInvoice, giving their customer base access to the fintech’s proprietary single invoice finance product as well as broader digital invoice finance facilities.

The terms of an invoice normally dictate a long payment period that can be up to 120 days, leaving businesses with a cash flow gap in the interim. With invoice financing, SMEs who sell goods or services to other businesses can upload or sync their invoices to MarketInvoice’s platform and sell them to investors, unlocking access to funding.

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