MarketFinance raises £100m from Deutsche Bank to fund UK SMEs
The Federation of Small Businesses (FSB) Quarterly Small Business Index (SBI) recently revealed that UK business loans hit historic low with less than one in ten (9%) small businesses seeking funding in Q1 2022 – the lowest proportion since SBI records began.
On the heels, London-based fintech credit and payments company financial market completed with £100m in a Deutsche Bank debt raise. The company will use the new cash to offer new loans to support UK SMEs with their investment and working capital needs. This will include loans to the 3.2 million underserved sole traders and partnerships in the UK
According to the fintech, UK SME borrowers will now be able to access between £10,000 and £500,000 within 24 hours of applying to help with their growth plans.
Supported by North area, Barclays Bank UK and Capital Mouro, the credit platform aims to make finance frictionless by solving payment and cash flow issues. MarketFinance uses smart technology to provide greater access to faster, more affordable payments and financing, with one-on-one personal assistance whenever businesses need it.
Marion DelilleVice President of Capital Markets at MarketFinance, said, “Finding a funding agreement with a high-caliber institution like Deutsche Bank is a significant milestone for our business and a testament to our track record in lending, our technology and our employees. This facility will allow us to continue to fulfill our mission of making financing frictionless for our SMEs.”
“MarketFinance continues to innovate serving individual merchants and partnerships by embracing the shift to integrated finance. We make our products available through key platforms, helping businesses manage their payments and gain seamless access to funding when they need it most. Businesses need financing in good times and bad, and we are here to support them,” added Anil StorerCEO and co-founder of MarketFinance.