MarketFinance reportedly lent £342.4mn to UK businesses up to November last year.
In Brief:
-
The FinTech has lent over £2bn since it was founded in 2011.
-
In 2020, it became an accredited CBILS lender to support businesses through Covid-19.
-
These loans were popular in Q2 and Q3, while Q4 saw growth in invoice financing.
What does this mean?
MarketFinance’s main focus is SMEs, which were hit hard by cashflow problems when the pandemic took hold. MarketFinance says that the problems have not remained in 2020 and that businesses will still have a lot to deal with over the coming months, and it intends to support them through this journey.
