Market Finance: Express loans for small and medium-sized enterprises
The tech company uses smart technology to offer better access to faster, more affordable payments and finance, with personal help from person to person, whenever businesses need it
Market Finance raised 100 million pounds from Deutsche Bank. The London-based fintech will use funding to lend to British SMEs. This will include loans of 3,2 million for the underserved sole proprietorships and cooperatives in the United Kingdom.
The British fintech offers businesses access to up to 500,000 pounds in less than 24 hours of applying, to help them meet their business goals and manage cash flow, as lending to small businesses is at the lowest levels ever recorded.
According to fintech, borrowers will now be able to access 10,000 to 500,000 pounds within 24 hours of applying to help their development plans. The Small Businesses Index (SBI) of the Federation of Small Businesses (FSB) recently revealed that lending to UK businesses has reached an all-time low, with fewer than one in ten (9%) small businesses applying for funding
in the first quarter of 2022 – the lowest rate since the start of SBI records.
With the support of Northzone, Barclays Bank UK and Mouro Capital, the credit platform aims to do the financing without friction, solving payment and cash flow problems. MarketFinance uses smart technology to provide better access to faster, more affordable payments and financing, with personal help from person to person, whenever businesses need it.
“MarketFinance is a company that has the ability to provide its services to all its customers: The closing of a financing agreement by a prestigious institution such as Deutsche Bank is a huge milestone for our business and proof of our lending history, of our technology and that of our people.This facility will allow us to continue to fulfil our mission to make the financing frictionless for small and medium-sized enterprises.”, said Marion Delille, Vice President of Capital Markets at MarketFinance.
“MarketFinance continues to innovate by serving sole proprietorships and cooperatives, embracing the move towards integrated finance.We deliver our products through key platforms, helping businesses manage their payments and gain seamless access to finance when they need it most. Businesses need financing in good and bad times, and we are here to stand by them,” added Anil Stocker, CEO and co-founder of MarketFinance.