Peer2Peer Finance News
The UK's first peer-to-peer finance magazine for investors and the industry
  • Home
  • News
    • Personal Finance News
    • Industry News
    • SME News
    • Global News
  • Property
  • IFISA
    • IFISA Guide
  • Video
  • Open Banking
  • Cryptocurrency
  • Features
    • Joint Ventures and Promoted Content
  • Comment & Analysis
  • What is P2P?
  • Partners
  • Events
    • Past Events
  • P2P Power 50
    • Power 50 2020
    • Power 50 2019
    • Power 50 2018
    • Power 50 2017
  • Sign up to our e-newsletters
  • Magazine
  • Directory
  • Jobs
  • My Account
    • Manage Account
    • Change Password
    • Log In
    • Log Out
Anilheadshot2
March 7 2019

MarketInvoice confirms departure from P2PFA

Marc Shoffman Industry News, News Anil Stocker, MarketInvoice, P2PFA, Peer-to-Peer Finance Association

MARKETINVOICE has confirmed it has left the Peer-to-Peer Finance Association (P2PFA).

The invoice finance and business loans P2P lending platform said it had decided to not renew its membership in December 2018 as its business was evolving with more institutional funding and bank partnerships.

It comes after the P2PFA released member lending figures on Wednesday (7 March), with no explanation of why MarketInvoice was no longer included.

Anil Stocker (pictured), chief executive of MarketInvoice, said the firm still supported the P2PFA’s rules and would work closely with it.

“As we scale the company, our business model is evolving on many fronts,” he said.

“With innovative bank partnerships, we are raising awareness and supporting new businesses across the UK.

“Similarly, we are attracting new sources of funding with growing interest from institutions. Given the changes afoot, we concluded that we would not renew our membership of the P2PFA, despite our continued full support of the P2PFA’s operating principles.

“MarketInvoice has enjoyed and benefited from its membership of the P2PFA including the role we have played through our membership in the development of this part of the UK alternative finance market.

“We look forward to maintaining strong relationships with the P2PFA and its platforms as the sector continues to grow and develop.”

The platform still works with high net worth investors but has established partnerships with several institutional backers in recent months.

Barclays took a minority stake in the platform last year and took part in a £26m Series B equity funding round alongside Santander’s InnoVentures fintech fund, technology credit fund Viola Credit and existing investor Northzone in January.

Viola Credit will also provide a debt facility of up to £30m to go towards business loans on the MarketInvoice platform.

It has also previously signed agreements with Portuguese bank Banco BNI Europa (BNI) and Germany’s Varengold Bank to channel £90m and £45m, respectively, on its platform.

Unbolted unveils P2P pawnbroking IFISA Zopa turns Open Banking focus to investors

Related Posts

Plant Growing Out Of Coin Jar On Table In Office -  Investing / Business Success Concept

Industry News, News, Top 3

Abundance Investment working on “new opportunities”

Model Houses Hanging By Strings

Industry News, News, Top 3

LendInvest bond value lost £5.8m during pandemic

Sonnenuntergang hinter den modernen Wolkenkratzern der Skyline von London, Großbritannien

Industry News, News, Top 3

Everything we know about the CBILS successor scheme (so far)

Popular posts:

  • Government responds to P2P fraud query
  • FCA lumps P2P lending in with higher risk products again
  • The alternative lenders accredited for CBILS
  • 4th Way gives its views on Zopa and Funding Circle returns
  • Funding Circle to offer first and second draw PPP loans
  • SME lender warns many companies will not survive
Back To Top
  • Home
  • Contact
  • About
  • Team
  • Advertising
  • Subscribe
  • Privacy
  • T&Cs
  • Disclaimer

Follow Us on Social Media

© Peer2Peer Finance News 2020
• Additional design by