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MarketInvoice joins the P2PFA

Tuesday 4th March 2014

MarketInvoice, Europe’s first and largest online invoice trading platform, has today joined the Peer-to-Peer Finance Association.

Founded in 2011, MarketInvoice provides UK SME businesses with fast, flexible and hassle free access to working capital. Investors agree to provide working capital to firms by buying invoices that credit worthy firms put up for sale on the platform. More than £130m funds have already been made available to business through MarketInvoice and the UK Government is now using it to help channel funds to SMEs.

Christine Farnish, Independent Chair of the P2PFA said:

“MarketInvoice is a leading p2p player with a great product that is shaking up and improving the UK’s business finance market. We are delighted to welcome them into the P2PFA. We now represent not only 95% of all peer-to-peer lending but a significant part of peer-to-peer invoice finance as well. These two types of alternative finance show huge promise in terms of providing attractive new ways of channeling funds to SME businesses to help boost economic growth.’

Anil Stocker, CEO of MarketInvoice said:

“We’re excited to be joining the Peer-to-Peer Finance Association. The work of this body is key in ensuring that our innovative, disruptive and fast-growing sector has the right foundations to continue thriving. The UK stands at the forefront of global financial technology innovation and to make a meaningful long-term difference to customers all members need to maintain the highest standards of client service, ethics and protection. The Association’s commitment to these principles is clear, and we look forward to contributing to the mission.”

The Peer-to-Peer Finance Association (P2PFA) was established to ensure that the emerging sector maintains the highest standards of conduct to benefit both businesses and consumers. All members must sign-up to the Associations rules and demonstrate high standards of business practice.

ENDS

About MarketInvoice (www.marketinvoice.com)

Businesses use MarketInvoice to selectively sell their invoices to a network of global investors.  The online platform is a working capital solution, giving SMEs immediate access to funds otherwise tied up for between 30 to 120 days.  Launched in 2011, MarketInvoice has helped hundreds of businesses overcome the lengthy payment terms of their large customers. More than £130m has been raised through the platform, with SMEs using the funds to hire more staff, launch new products and pay their suppliers.

MarketInvoice is a new type of p2p funding solution, accessible to a wide range of UK SMEs. Businesses are able to sell single invoices online, only as and when they need to. There are no contracts, hidden fees or personal guarantees; new clients can sign up, sell an invoice and draw down funds on the same day.

Invoices are funded by a global pool of investors including high net worth individuals. In August 2013, the UK government began investing in SME invoices via MarketInvoice as part of their Business Finance Partnership scheme. This initiative will see £40m channeled through the platform over a 12 month period.

 

T&C of P2PFA survey

Terms and Conditions:

The “Promoter” is the Peer-to-Peer Finance Association.

1. The closing date for entries is 23.59hrs on 12 February 2015. Any entries received after this date will not be entered into the competition.

2. No purchase necessary.

3. Entry in the competition is via the submission of a completed Peer-to-Peer Finance Association survey on ISAs. Submissions can only be made via the link contained in this email.

4. The Prize is a new Samsung Galaxy Tab S. The Prize is subject to availability, and the Peer-to-Peer Finance Association reserves the right to replace the Prize with an alternative product of equal or higher value if necessary at the Promoters’ discretion.

6. The competition is only open to UK residents aged 18 years or over.

7. The competition is not open to employees of any member of the Peer-to-Peer Finance Association or their families or officers of the Peer-to-Peer Finance Association itself.

8. By participating in the promotion the entrants licence and grants the Promoter an exclusive, royalty free, perpetual, worldwide, irrevocable and sub-licensable right to use, reproduce, modify, adapt, publish and display the content sent for the competition for any purpose in any media, without compensation, restriction on use, attribution or liability. Participants agree not to assert any moral rights in relation to such use where the moral rights in respect of the content are theirs to assert.

9. The winner will be selected at random after the closing date by an independent judge from all entries received. The judge’s decision is final and no correspondence will be entered into.

10. The winner will be contacted via email within 4 weeks of the closing date. Following notification, the winner will be required to send the Promoter full details of their postal address to which the prize will be delivered (if applicable).

11. If the Promoter cannot: (i) contact the winner (via the details provided at the date of entry) within a reasonable period of time (to be established at the Promoter’s sole discretion); or (ii) the winner does not return details of its postal address to the Promoter within 14 days of notification that they have won the Prize, the Promoter reserves the right to re-draw a winner of the Promotion and thereafter until a winner on these terms is found.

12. Please allow 28 days for delivery of the Prize. The Promoter accepts no responsibility for the Prize being lost, damaged or delayed in the post.

13. Unless otherwise stated, the Promoter is the Peer-to-Peer Finance Association, c/o Cicero Group, 1 – 2 Lower James Street, London W1F 9EG. The winner’s name will be available six weeks after the closing date by sending a stamped addressed envelope to “Peer-to-Peer Finance Association ISA Survey Competition” at the above address.

15. It is the Promoters right to refuse to award a prize or withdraw prize entitlement and/or refuse further participation in the promotion and disqualify the entrant where there are reasonable grounds to believe there has been a breach of these terms and conditions or the entrant has failed to participate in the spirit of the competition.

16. Any question concerning the legal interpretation of these terms & conditions will be based on English law and the Courts of England and Wales will have exclusive jurisdiction.