- 10 Feb
MarketInvoice PRO Launched
A clever move by MarketInvoice who have just launched "MarketInvoice PRO" their Confidential Invoice Discounting product, designed to respond to customer demand and complement their existing selective invoice trading facility, which is available to smaller businesses.
The new service provides customers with a funding line against all of their outstanding sales invoices. To qualify customers must:
- Be limited companies or LLPs registered in the UK or Ireland.
- Have £1m annual turnover filed with companies house.
- Sell goods or services, to business customers, on credit terms.
- Have at least 2 years financial accounts filed at Companies House.
Get A Quote
Please use our contact request service to find out what the cost would be for your business: Contact MarketInvoice
However, if your business is not large enough to meet the MarketInvoice minimum turnover criterion of £1,000,000, it is likely that we can find you a similar facility with an alternative provider. If your turnover is lower please contact us for assistance, in confidence.
Expanding Into Whole Turnover Invoice Discounting Is A Smart Move
MarketInvoice initially launched as a selective invoice finance platform, and at the current time, they have transacted in excess of £1.1 billion worth of invoices traded via their platform. However, I am not surprised to hear that they are now expanding their product offering to include a whole turnover option for larger customers.
We carried out research back in 2013 that showed that whilst 37% of target invoice finance customers thought they would prefer a selective facility, 63% said they would want to access funding against all their outstanding sales invoices. This would suggest that they market for whole turnover facilities is nearly twice the size of that for selective. Hence, I would think it was a smart move to be able to cater for both aspects of the market, as the appetite for both kinds of funding is clear from our results.
Confidential invoice discounting is also something that many customers find attractive, they like the idea that debtors are unaware of the arrangement (hence the name "confidential") whilst at the same time they get to access the finance against invoices that grows as the turnover of their business grows.