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Peer2Peer Finance News | June 24, 2017

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MarketInvoice bolsters sales team to meet 2017 lending target

MarketInvoice bolsters sales team to meet 2017 lending target
Suzie Neuwirth

MARKETINVOICE has hired former Deutsche Bank trader Neha Mittal as its vice president (VP) of finance and strategy and promoted Gavin Sumner to VP of sales.

The peer-to-peer invoice finance provider said on Tuesday that the two appointments would help the business meet its ambition of lending £2bn this year.

Mittal spent six years at Deutsche Bank, where she went on to become VP of synthetic fixed income trading before leaving to study for an MBA at Wharton Business School.

She came back to London where she founded two fintech start-ups – Ambitioni and Laddoo – before joining MarketInvoice for a three-month period as strategy consultant last year.

In the newly-created role of VP of finance and strategy, she will manage the finance team, be responsible for financial reporting and play a key part in the strategic development of the business.

Read more: MarketInvoice snaps up Santander exec as head of risk

Sumner, who previously worked at information services group Experian, joined MarketInvoice last year as head of sales. In his new role, he will be lead a team of 25 sales people and drive the firm’s revenue growth.

“Here at MarketInvoice we are excited about the future,” said Anil Stocker (pictured), chief executive and co-founder of MarketInvoice.

“It is a pleasure to work with people who care so deeply about our mission to serve UK businesses, and we are happy to be able to promote internally and bring in the best talent into these new positions.

“Both Neha and Gavin have knowledge and experience of the challenges that lie ahead as we scale up and we are confident they can make a real impact here.

“These new appointments will strengthen MarketInvoice’s ability to create new products, deliver the best in class customer service, and support businesses across the country.”

MarketInvoice launched a new invoice product in February called MarketInvoice Pro to provide credit lines to larger companies, marking its first foray into the invoice discounting market.

Last month it announced that it had enjoyed a record quarter, funding £130m of invoices during the first three months of the year, mainly thanks to MarketInvoice Pro.