- 20 May
Invoice Finance News From May 2019
These are a few invoice finance related news items that I have picked up on recently.
Worldwide Receivables Financing Market Hits 2.76 Trillion Euros
A release from FCI, suggests that the global market for factoring and receivables financing in 2018, hit the 2,767 billion Euro mark. This followed 6% growth since the previous year.
Of that huge volume, Europe alone accounted for 66% of the total volume transacted, remaining the largest market for receivables financing. It is encouraging to see continued growth in the volumes being transacted, and for these products to be taking such a key role in cash flow financing for businesses.
Marketinvoice Wins Innovation Award
Marketinvoice have been named as the 2019 winners of the "Most Innovating Invoice Financing Solutions" award, as part of the Acquisition International Magazine, Business Excellence Awards.
The win has followed their latest round of debt and equity funding, and establishing a fintech partnership with Barclays Bank. The partnership allows them to deliver their business funding services to the Barclays client base, and was announced back in August 2018.
There have been a series of "road show" style collaborations between Marketinvoice and various parts of the Barclays Bank network mentioned on LinkedIn in recent months. It will be interesting to hear how that initiative has progressed in due course.
Ultimate Finance Unify Sales Team
Ultimate Finance, under the new leadership of CEO Josh Levy, have announced (Business Money 14/05/19) plans to create a single, unified sales force, to promote their asset finance, trade finance, bridging and invoice finance services. Andrew Ribbins has been appointed to lead the sales team, marking the departure of Richard Waldman.
Back in March, we reported on the launch of FlexiCredit, a new credit line funding product, from Ultimate Finance, aimed at small businesses. Typically smaller businesses have not been well served by many of the invoice funders, therefore it is good to see someone addressing the needs of these smaller organisations.