Peer-to-peer lender MarketInvoice secures £7.2m funding
Peer-to-peer lender MarketInvoice has brushed aside concerns that Britain’s Brexit vote would curtail investment after raising £7.2m from Polish venture capital and private equity firm MCI Capital together with additional money from Northzone.
The money will enable the lender to branch out from small business lending, where it is currently nearing £1bn in loans, to start-ups and mid-sized forms as it seeks to expand internationally.
MCI Capital senior partner Sylwester Janik remarked: "Following the result of the UK referendum, many might perceive investing in fintech as a risk. With MarketInvoice, it’s actually the opposite.
"We see an economic slowdown and a distracted banking sector as a potential opportunity to fuel growth of the platform. Through its prudent risk management, we believe MarketInvoice is well prepared to deal with changing market sentiment in the future.”
This optimism was reflected by advisory group Anthemis which suggested that present uncertainty could serve as a catalyst for driving innovation.