A NEW peer-to-peer invoice finance platform has launched, offering cash advances of up to 85 per cent of the value of an unpaid bill.
MatchPlace, which calls itself a “financial services platform for small and medium businesses”, launched MatchPlace IF on Friday. The new offering enables private and institutional investors, as well as banks, to fund invoices, thus releasing capital for small- and medium-sized enterprises (SMEs).
Businesses can submit their invoices through the MatchPlace IF platform for verification and receive up to 85 per cent of their face value from registered investors.
MatchPlace was founded by Tusk Capital chief executive Andrew Irvine, former global head of forex at Credit Agricole Benjamin Gedeon and IT expert Christophe Monget. The company also offers a foreign exchange service for SMEs called MatchPlace FX.
“Financing a trade receivable is one of the easiest way for companies to acquire working capital,” Benjamin Gedeon, chief executive of MatchPlace, said.
“From 2011 to 2016, alternative finance invoice trading experienced a triple digit growth in UK.
“We funded our first invoice in London last December and we are now proud to fully open our invoice funding service to companies.
“We offer investment opportunities for investors looking to diversify their portfolio.”
MatchPlace said it will use artificial intelligence and machine learning systems to provide borrowers with the “best financing rates” and security.
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