Business finance company MarketInvoice has signed an agreement with Varengold Bank AG to provide £45m funding annually on its invoice finance platform. This will fund working capital solutions for businesses across the UK.
Overall, sums advanced to UK businesses from institutional investors via MarketInvoice have increased more than 4-fold since 2014 from £27.8m to £116.3m in 2017. Cumulative funding from institutions stands at £296.2m which represents a quarter (26%) of the total funds advanced to UK businesses.