B2B Payments

MarketInvoice Rebrands To Expand Business Finance Offering

MarketInvoice Rebrands To Expand SMB Offering

MarketInvoice is rebranding to reflect its expansion beyond invoice financing for small businesses.

The company announced its new name, MarketFinance, in an announcement on Tuesday (Nov. 12), as well as an expanded product offering for U.K. small and medium-sized businesses. According to the company, MarketFinance is the first FinTech in the U.K. to offer a range of financing products for SMBs and to offer borrowers a consolidated view of all their outstanding financing and loan arrangements.

In addition to invoice financing, MarketFinance also connects small businesses to loans with between one- and three-year repayment plans. Today, the company offers loans of up to £250,000, with plans to expand that to £500,000 in the future.

As part of its expansion, MarketFinance has also begun targeting larger corporates with the introduction of corporate lending, which provides businesses with up to £5 million in structured financing facilities that can combine invoice financing and business loans.

“Moving to our new name, MarketFinance, recognizes the journey we have been on since 2011,” said MarketFinance CEO and Co-founder Anil Stocker in a statement. “It accurately reflects the wider lending choices we offer businesses today and those we will bring to the market in the future. Furthermore, it aligns with our company strategy to become a single source for all the finance needs required by ambitious business leaders.”

He added that the additional financing products allow MarketFinance to “better service larger businesses.”

The addition of the single-view management of a single business’ multiple financing products “will be a valuable resource to business owners in understanding their finance options,” Stocker continued. “Effectively, they will be able to see how much finance they have at their disposal at any given time, in the most efficient combination possible.”

He added that MarketFinance’s existing credit risk platform will continue to operate at the center of all financing products the company offers.

——————————

PYMNTS LIVE ROUNDTABLE: TUESDAY, JULY 14, 2020 AT 12:00 PM (ET)

Digital transformation has been forcefully accelerated, but how does that agility translate into the fight against COVID-era attacks and sophisticated identity threats? As millions embrace online everything, preserving digital trust now falls mostly on banks and FIs. Now, advances in identity data and using different weights on the payment mix afford new opportunities to arm organizations and their customers against cyberthreats. From the latest in machine learning for fraud and risk, to corporate treasury teams working in new ways with new datasets, learn from experts how digital identity, together with advances like real-time payments, combine to engender trust and enrich relationships.

TRENDING RIGHT NOW