Guest Blog: MarketInvoice
In our latest guest blog, we hear from MarketInvoice, a company who are making the world of finance more efficient and transparent.
Who are we?
MarketInvoice was founded by Anil Stocker (CEO) and Ilya Kondrashov (CFO and COO) in 2011. We are an alternative finance company who runs an online marketplace for young or fast-growing companies to sell their long dated, unpaid invoices. This process releases much-needed working capital for credit-starved businesses.
Over £420 million of invoices have been traded through our platform so far. We pride ourselves on our innovative approach, and this is a massive part of what drives our brand. We saw an issue to solve and an old industry that was in need of a new approach. Our product is a cashflow solution with an online funding platform as the foundation that allows the UK’s most ambitious businesses to remain in control.
Why are we here?
We do what we do because we believe in the small businesses of Britain; they are exciting companies doing incredible things. However, banks and traditional finance providers are failing them, like one of our clients Scaramouche & Fandango.
Scaramouche & Fandango are a men’s body and skincare range whose vibrant, no frills brand is all about high quality ingredients and high performance products.
It all began in the living room of the two founders, and less than two years later the company is a global business with products stocked in many of the world’s most exclusive department stores, including Selfridges, Barneys NY, Harvey Nichols and Fortnum & Mason.
Cashflow is always a big challenge for manufacturers that have contracts with large UK and international department stores, many of whom operate on 60 – 90 day payment terms. This was especially true for a business like S&F with significant growth ambitions.
“MarketInvoice has been invaluable in allowing us to liquidate cash from longer term payers and reinvest the capital to help grow our business. They’ve been incredibly supportive and offer a great level of flexibility. We would most definitely recommend them without hesitation: they’re a refreshing change to what is available on the finance market.”
How it works
- Pay as you go: We’re flexible. Instead of selling your whole debtor book, trade invoices only as and when you need finance.
- Quick: Apply online in just 15 minutes – 90% of submitted applications are accepted onto MarketInvoice. Receive funds within 24 hours.
- Hassle free: We don’t require debentures, personal guarantees or a contract.
What we’re looking for
- Businesses that are paid on terms, selling goods or services to other businesses
- Businesses that are registered in the UK as either a Ltd company or an LLP
- Businesses with outstanding invoices
We can now price any debtor and there is no minimum or maximum invoice size. To find out more about MarketInvoice and how you can access more cashflow to help your business grow, check out our website.