MarketFinance, a payments and credit FinTEch, has just raised £100mn to support its lending.
In Brief:
- MarketFinance currently offers UK based SMEs loans of up to 500,000.
- Now also available to sole traders and partnerships it offers a decision within 24 hours.
- Deutsche Bank’s contribution will part-fund up to £100mn worth of lending.
What does this mean?
The financing enables MarketFinance to expand the number of SMEs (small and medium sized enterprises) it’s able to serve with faster, competitive loans. Having become profitable last year, the business says it’s making its products available on a range of platforms and hopes to become a unicorn.
