MarketInvoice Secures $33.5M From Barclays and Santander to Expand SME Lending
Europe's largest online invoice finance platform, MarketInvoice, raises $33.5 million in a Series B round led by Barclays and Santander InnoVentures. The funding aims to deepen UK market penetration and launch cross-border fintech-bank partnerships.
MarketInvoice raises £26 million ($33.5 million) in a Series-B funding round led by Barclays and Santander InnoVentures to expand its online invoice finance platform. The round also sees participation from previous investor Northzone and Viola Credit, which provides an additional £30 million debt facility to scale the company's business loans solution. This investment highlights London's continued strength as a major global FinTech hub.
The capital allows MarketInvoice to deepen its presence in the UK market and launch cross-border fintech-bank partnerships to enter new territories. Having funded over £2 billion worth of invoices and business loans to UK companies since 2011, the platform focuses on using strategic partnerships to access new data sources and reach more entrepreneurs. CEO Anil Stocker emphasizes that collaborating with established banks accelerates customer education and expands their reach much faster than going solo.
This funding builds directly on Barclays' previous minority equity stake and its successful rollout of MarketInvoice services to its massive SME client base. Bank leaders view this deeper integration as a way to upgrade their offerings and boost competition in the SME lending space. Ultimately, this strategic alignment between traditional banking giants and agile fintech platforms provides small businesses with faster, more innovative access to essential cash flow.