A new P2P invoice financing platform has been launched

A NEW peer-to-peer invoice financing platform has been launched, offering cash advances of up to 85% of the value of an unpaid invoice.

MatchPlace, which bills itself as a “financial services platform for small and medium-sized businesses,” launched MatchPlace IF on Friday. The new offering allows private and institutional investors, as well as banks, to finance bills, freeing up 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% of their face value from registered investors.

MatchPlace was founded by Andrew Irvine, managing director of Tusk Capital, former global head of forex at Crédit Agricole Benjamin Gedeon and IT expert Christophe Monget. The company also offers a foreign exchange service for SMEs called MatchPlace FX.

Read more: MarketInvoice secures £100m of institutional funding for larger invoice finance transactions

“Financing a trade receivable is one of the easiest ways for businesses to acquire working capital,” said Benjamin Gedeon, CEO of MatchPlace.

“Between 2011 and 2016, the alternative financing invoice business grew by triple digits in the UK.

“We financed our first invoice in London last December and are now proud to fully open our invoice financing service to businesses.

“We provide investment opportunities for investors looking to diversify their portfolio.”

MatchPlace said it would use artificial intelligence and machine learning systems to provide borrowers with the “best financing rates” and security.

Read more: Bill financing continues to grow

Read more: Invoice financing: the lifeline for businesses

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