There has been a lot of uncertainty for the marketplace lending industry in Europe following the Brexit vote in June. But today MarketInvoice announced a financing round of £7.2 million, becoming the first European marketplace lending company to announce a fundraising round since the Brexit vote. This comes after their £6 million series A in August, 2015.
MarketInvoice is the largest marketplace lender focused on invoice finance in Europe. They are based in London and Manchester and are currently providing £1.5 million per day in cash flow to UK businesses. They are approaching the £1 billion mark, having lent £850 million already.
The investment was led by the MCI TechVentures Fund of MCI Capital which is a Polish private equity group. Northzone who has invested in the past also increased their investment in the company. According to the press release, the influx of cash will be used to ramp up marketing and continue product development. They will also broaden the businesses they serve from startups to mid sized companies. [Read more…]