MarketInvoice now lets businesses finance foreign invoices

MarketInvoice now lets businesses finance foreign invoices

MarketInvoice, based in the U.K., is adding support for companies that have foreign invoices. The invoice financing company said it is adding euro and U.S. dollar capabilities to its solution, allowing businesses with invoices in these currencies to get financed. The feature is part of MarketInvoice Pro, a service launched earlier this year and allows companies to seek financing against their collective outstanding invoices, as opposed to MarketInvoice Select, which enables customers to choose the particular invoices on which they need financing. Select already had capabilities to support invoices in other currencies.

Larger businesses that are adopting MarketInvoice Pro typically do business abroad, and this functionality will allow them to use their foreign currency invoice in equal measure as they do sterling invoices. With exports up almost 30 percent year-on-year, businesses are using MarketInvoice to fund their overseas expansion.”

Stephanie Le Geyt, MarketInvoice Senior Product Manager

MarketInvoice raised $9.5 million in venture capital last year in a funding round led by MCI Capital via MCI.TechVentures Fund. At the time the company said it would use those funds to focus on product development; MarketInvoice Pro was launched several months later.

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