FinTech firm MarketInvoice has revealed a new company name as it expands its suite of finance products.
Rebranded to become MarketFinance, the firm said the change has been made to better represent its new business loans and corporate lending products, which it will offer alongside invoice finance.
Based in London and Manchester, its CEO and co-founder Anil Stocker said the rebrand recognises the journey the firm has been on since it was launched in 2011.
“It accurately reflects the wider lending choices we offer businesses today and those we will bring to the market in the future. Furthermore, this aligns with our company strategy to become a single source for all the finance needs required by ambitious business leaders.”
Stocker said the firm now offers a better service to larger businesses with its Corporate solutions team, and now offers a ‘single view’ which will allow business to see how much finance they have at their disposal.
“We started MarketFinance to enable businesses to thrive because they drive growth, exports and jobs in our local communities.
“Since 2011, we have been steadily building a business with a focus on data, technology and brilliant customer service. Today, as an integrated business lender, we connect to accountancy software, banking data and a variety of other sources to provide the best finance facilities to companies.
“This has enhanced our credit risk platform which is well placed to drive future innovation for our customers.”
MarketFinance customer Roberto Baldacci, MD at security personnel firm City Security Ltd, commented: “A business has two finance needs, first to ramp cash flow and second, capital to invest for growth.
“We’ve used almost £5m in invoice finance just this year to get liquidity into our business while waiting on long payment terms for clients. Our business loan will help our strategy to grow by acquisition and broaden our presence across the UK.”
In January the firm secured £56m through equity funding and a debt facility.