BNI Europa will lend $57.87 million over MarketInvoice,
The Portuguese bank BNI Europa is proactively working with fintech businesses globally that prescribe to the vision of providing low-cost, innovative products with exceptional customer service. That is why the bank decided to boost the UK peer-to-peer lender for small businesses with a £45 million ($57.87 million) loan. The main reason, that BNI signed on MarketInvoice is the recently launched new product called Pro, that allows small businesses to access a rolling credit line.
Recently MarketInvoice provided a record amount of funding in March 2017. The whole Q1 in 2017 has proved to be a record period for the company as it scales towards its goal of providing funding against £2 billion of invoices.
Launched in 2011 and based in London and Manchester, MarketInvoice has helped thousands of businesses overcome the lengthy payment terms of their customers. More than £850m has been raised through the platform, with businesses using the funds to hire more staff, launch new products and pay their suppliers. In June 2016 the company has announced a £7.2 million investment led by MCI.TechVentures Fund of MCI Capital.