- MarketFinance has declared 2021 a year of profit with 133% revenue growth
- In addition to strategic partnerships with Barclays and other fintech, growth is driven by product development and its role as a delivery partner for British Business Bank lending schemes, CBILS and RLS.
- MarketFinance’s FinTech platform offers the fastest credit decisions on the market, with 100% of applications processed within 24 hours.
- Based on this growth, MarketFinance is building lending APIs and investing significantly in embedded finance models, as it targets Unicorn status.
London, United Kingdom – 31st March 2022 – MarketFinance, the leading fintech payment and credit provider, today announced a 133% increase in revenue, seeing business profitability in 2021 as it invests more in its embedded finance products and digital lending APIs.
The growth of market finance is driven by the growing demand for effective capital from SME borrowers in the epidemic, which is supported by Fintech’s government-backed Coronavirus Business Intervention Loan Scheme (CBIILS) through its successful rollout of loans and its recognition as a delivery partner in recovery. Loan Scheme (RLS). Both schemes have seen the company handle more than 2.1bn in digital applications with the fastest decision on the market – currently 100% of applicants can be heard in less than 24 hours. This growth has been achieved with the company’s move to double its existing strategic partnership with Barclays Bank UK Plc and international cash management specialist Ebury. MarketFinance is also launching new strategic partnerships with Azets, the largest top 10 regional SME accountancy and business advisory firm and FTSE 250 Enterprise Merchant in various sectors.
Fintech has seen a nearly tenfold increase in monthly borrowing applications from the epidemic and has been able to provide businesses with the fastest ‘yes time’ on the market through their digital application process. The monthly application volume submitted for 2019 £ 20m-30m volume has risen to an average of £ 300m per month until 2021, reaching a maximum of £ 725m per month. Last year MarketFinance advanced more than half a billion pounds across its product offerings, which included invoice money, business loans and flex loans, and a wide range of authorized credit limits of £ 286m.
MarketFinance has for over a decade focused on providing non-abrasive payments to B2B businesses in partnership with Blue Chips, start-ups and public companies. The company has benefited greatly from a strong track record of successfully embedding lending services on a cross-sector basis, with MarketFinance’s merchandise merging into Barclays Online Banking, enabling millions of pounds in business lending funds through partnership since 2018.
Looking ahead, MarketFinance is building on this growth by developing its lending APIs and investing more in embedded finance models by integrating with software platforms, accountancy platforms, digital banks and B2B marketplaces, as it aims to unicorn status. In Q2 2022, MarketFinance will unveil its latest digital payment and credit offer for business and B2B marketplaces as the next step in its embedded finance strategy.
Anil Stoker, CEO of MarketFinance, commented: “In a market where profits are often second only to growth, we are extremely proud that we have reached this significant profit milestone. Our track record as a B2B credit provider over the past decade, with our focus on refining our transaction APIs, and working towards launching more payments and credit options for B2B marketplaces, has put us in a much better position to build a much larger company. We are still too early in our long journey.
“MarketFinance is leading the B2B embedded finance market and focuses on transforming the way Clarna transforms consumer payments and credit. We will achieve our ambitious goals through the continuous development of pioneering new products, hiring and maintaining great people in our mission, as we have done with Barclays, to provide as many business services as possible with as much money as possible.
About market finance
MarketFinance is a fintech business financing and credit provider that believes SMEs are missing out on legacy financial institutions. By making money non-abrasive, they are solving cash flow problems on the way to progress. MarketFinance uses smart technology to provide faster, more affordable payments and better access to financing, one-on-one help whenever the business needs it.
Since 2011, MarketFinance has advanced invoices, loans and credits worth around £ 3 billion and handled more than বিল 20 billion in B2B payments, enabling thousands of UK businesses to fill today’s funding gap and fuel tomorrow’s big ambitions. MarketFinance is a recognized recovery loan scheme lender and has an extensive network of strategic partners including Barclays Bank UK PLC, Tide Bank, Equals Group and Ebury.
MarketFinance is backed by an array of reputable equity investors, including Northzone, Barclays Bank UK plc and Muro Capital.
CCGroup for Market Finance