MARKETINVOICE has unveiled a new brand name to reflect its widening product suite.
The peer-to-peer business lender has changed its name to MarketFinance.
Anil Stocker (pictured), who co-founded the firm in 2011, said the change would give borrowers a clearer view of the type of finance they can access.
The platform, which started by offering invoice finance, now also provides business loans and its recently launched corporate lending product which combines both.
The lender has announced it will increase its maximum business loan size from £250,000 to £500,000 in the coming months and is planning more product launches, as well as further Open Banking and accountancy partnerships.
“Moving to our new name, MarketFinance, recognises the journey we have been on since 2011. It accurately reflects the wider lending choices we offer businesses today and those we will bring to the market in the future,” Stocker said.
“Furthermore, this aligns with our company strategy to become a single source for all the finance needs required by ambitious business leaders.
“We have the leading invoice finance products in the market and our business loans are gaining traction with existing and new customers.”
Borrowers will also be able to access a single view of their finance facilities in one place.
“We now better service larger businesses with our corporate solutions team and have made fast progress towards offering a single-view across multiple live finance facilities,” Stocker said.
“The single-view will be a valuable resource to business owners in understanding their finance options.
“Effectively, they will be able to see how much finance they have at their disposal at any given time, in the most efficient combination possible.
“Central to these developments has been our industry-leading integrated credit risk platform which has been tested over the past eight years and across many different sectors. We look forward to bringing further products to the business finance market in coming years.”