- UK based Invoice Trading platform
- 24 trading process in ‘three clicks’
- Wide network of vetted investors
- Institutional investors and ‘High Net Worth’ individuals
- Average fee 1%-3% of invoice value
MarketInvoice was created by people working in financial services, financial institutions and investment banking to help businesses sell their invoices online. Businesses can raise finance in 24 hours using their peer-to-peer lending platform that uses a wide network of investors who buy those invoices. It is essentially a peer-to-peer financing platform in which funds are given by the investors worldwide (including the British government British Business Bank initiative)…
Invoice finance falls under asset based financing, which is not currently an activity regulated by the FCA. Everything can be done on the same day, from signing up to selling invoices to drawing down.
The basic process is as follows:
- You apply online in 15 minutes. The application needs the company’s financial information and bank statements.
- You can upload some or all of your invoices in order to sell them.
- MarketInvoice checks these invoices in order to make sure they are legitimate.
- Once verified, MarketInvoice will sell your invoices online.
MarketInvoice does not invest any capital into invoices itself or on behalf of any third parties. MarketInvoice does not take client deposits or give any investment advice.
Generally, 90% of the applications are accepted.
You can check for eligibility online, but generally you can use MarketInvoice if:
- You have a limited or limited liability partnership (LLP) company based in the UK or Ireland
- You have £100,000+ turnover
- You sell goods or services to other businesses on terms
- You have at least 6 months of trading history
It’s open to any kind of business to use, from turnover anywhere from £100,000 to £100m.
Only institutional investors or qualifying high-net-worth individuals are allowed to purchase invoices. All investors registered on the platform have been fully vetted by MarketInvoice and sign up to strict confidentiality agreements for the information they are able to access on individual businesses and invoices.
Fees are applied on a trade-by-trade basis and vary according to a number of factors, including invoice value, expected payment date and your trading history on the platform. The total fee for an invoice sold on MarketInvoice is, on average, between 1% and 3% of invoice value.
MarketInvoice has a cost calculator on their home page that should give you a good idea of the fees involved before you commit. MarketInvoice is not registered for VAT (and does not claim VAT). Therefore, MarketInvoice does not charge any VAT on fees to Investors.