Two major fintech companies are partnering to offer UK businesses unparalleled access to almost-instant funding through accounting software.
The partnership between MarketInvoice and Xero will enable businesses to apply and be approved for funding directly through their accounting software in a total of just 20 minutes.
After the one-off approval process is complete businesses can repeatedly generate almost-instant finance with just three clicks of a mouse by selling their long-dated invoices directly to investors.
MarketInvoice CEO Anil Stocker said: “Accessing finance for a growing business has long been a painstaking process dogged by delays, hidden fees, and complex long-term contracts.
“All of that is changing. MarketInvoice and Xero are both companies using innovation to shake-up jaded industries and this partnership changes the way businesses access finance.”
Gary Turner, Xero UK MD, said: “The chronic challenge small businesses face in trying to access working capital isn’t helped by the fact their accounting data is locked away inside archaic systems and often out of date.
“Xero’s cloud-based accounting software easily eliminates these issues and so it’s very encouraging to see new funding services now emerging that unlock cash tied up in long-dated invoices directly through our cloud accounting platform.”
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