Barclays and Santander funds £26m to MarketInvoice.

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Invoice finance platform MarketInvoice has raised £26M ($33.5M) from Barclays and fintech fund Santander InnoVentures in a Series-B funding round.

The existing investor in the company, Northzone and Israeli private credit fund Viola Credit also participated in the round.

With the new funding, the platform looks to make new hires , partnerships, and cross-border fintech-bank alliances to support more businesses.

Anil Stocker, CEO, MarketInvoice, says: “We’re excited to develop our finance solutions further and become the trusted funding partner for ambitious entrepreneurs.

“By collaborating with bank partners, we will be reaching many thousands of companies here in the UK and abroad to provide them with their business finance needs. We aim to invest in technology, data and strategic partnerships, to take MarketInvoice to the next level.”

Ian Rand, CEO, Barclays Business Bank, says: “Collaborating with fintech companies like MarketInvoice is an integral part of Barclays’ strategy for accelerating growth.

“This investment demonstrates our commitment to the partnership we announced last summer which offers hundreds of thousands of our SME clients access to even more innovative forms of finance, boosting cash flow and competition in the market.”

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