- The funding will help MarketFinance provide up to £100m in loans to UK SMEs.
- This will include offering loans to the UK’s 3.2 million underserved sole traders and partnerships for the first time.
- Eligible businesses can access up to £500,000 within 24 hours of application, to help them meet business goals and manage cash flow as small business loans fall to record lows.
London, United Kingdom – May 19, 2022 – MarketFinance, the leading fintech credit and payments company, today announced an increase in Deutsche Bank debt which the company will use to part-fund up to £100m in loans to support SMEs strong and well managed with their investments and working capital needs.
The announcement comes at a time when results from the Federation of Small Businesses (FSB) quarterly Small Business Index (SBI) show UK business lending has hit a record high with less than one small business on ten (9%). companies applying for funding in the first quarter of 2022 – the lowest proportion since SBI registrations began.
MarketFinance also announced today that it is expanding its lending capacity to include underserved SMEs, such as the UK’s 3.2 million sole proprietorships and partnerships, offering competitive rates and terms, while continuing to serve limited companies and LLPs. With the fastest credit decisions and payments on the market, borrowers in UK SMEs – the backbone of the economy – will be able to access between £10,000 and £500,000 within 24 hours of applying to support their recovery plans. growth.
“Finding a financing agreement with a high caliber institution like Deutsche Bank is a significant milestone for our business and a testament to our lending track record, our technology and our people. will continue to deliver on our mission of making finance frictionless for UK SMEs,” said Marion Delille, Vice President of Capital Markets at MarketFinance.
“The fintech movement started in the shadow of the financial crash of 2008 and has since grown into an essential part of the financial ecosystem in the UK and exported around the world. Companies like MarketFinance were there to help during the Covid pandemic. We continue to innovate by serving sole proprietorships and partnerships for the first time and embracing the shift to integrated finance. We make our products available through key platforms, helping businesses manage their payments and gain seamless access to funding when they need it most. Businesses need financing in good times and bad, and we’re here to support them,” added Anil Stocker, CEO and co-founder of MarketFinance.
Born in the shadow of the financial crash of 2008, MarketFinance operates a proprietary fintech platform that gives UK SMEs easy access to highly competitive business loans and working capital – with the fastest credit decisions in the world. market. The company recently announced that it has achieved profitability in 2021. This is largely due to commercial demand for working capital during the pandemic, the development of products to offer integrated financing with key partners in the business-to-business platform and its role as a delivery partner for the British Business Bank, CBILS and RLS lending programs.
For more information, please contact: Tilson Pinto, CCgroup for MarketFinance on [email protected] and M: +44 7342 034 262
MarketFinance is a fintech business credit and payment company that believes that SMBs are underserved by traditional financial institutions. By making finances frictionless, they solve payment and cash flow issues that hinder progress. MarketFinance uses smart technology to provide greater access to faster, more affordable payments and financing, with one-on-one personal assistance whenever businesses need it.
Since 2011, MarketFinance has helped businesses collect over £20 billion in B2B payments and advanced over £3 billion in credit through working capital and business loans, enabling thousands of businesses to fill the funding gaps of today and fuel the big ambitions of tomorrow. MarketFinance is an accredited Recovery Loan Scheme lender and has an extensive network of strategic partners including Barclays Bank UK PLC, Tide Bank, Equals Group and Ebury.
MarketFinance is backed by a range of prestigious investors including Northzone, Barclays Bank UK PLC and Mouro Capital.