# Banco BNI Europa to provide £45m to UK SMEs through MarketInvoice Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2017-05-16 Category: BUSINESS Category URL: https://financedigest.com/category/business Meta Title: BNI Europa and MarketInvoice partnership driving UK SME Meta Description: Discover how BNI Europa's £45 million annual funding commitment to MarketInvoice is empowering UK SMEs post-Brexit. Learn more now! URL: https://financedigest.com/banco-bni-europa-to-provide-45m-to-uk-smes-through-marketinvoicehtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/img7559-2159-1736843868738-compressed.jpg) - European Bank BNI Europa in strategic partnership with MarketInvoice - Brexit: European Institutions propping up UK SMEs with working capital - MarketInvoice Pro take-up driving interest from Institutions MarketInvoice , the world’s largest peer-to-peer online invoice finance marketplace, has [signed an agreement](https://www.financedigest.com/french-unions-unanimously-sign-wage-agreement-with-edf-company-says.html "French unions unanimously sign wage agreement with EDF, company says") with Banco BNI Europa (BNI) to provide £45 million in funding annually on the marketplace to fund working capital solutions for businesses across the UK. BNI trialled an investment [last year](https://www.financedigest.com/crypto-investors-step-up-risk-management-after-last-years-meltdowns.html "Crypto investors step up risk management after last year’s meltdowns") (£28.3m) and has now signalled its full commitment and confidence in the MarketInvoice proposition. Overall, sums advanced to UK businesses from [institutional investors via MarketInvoice have almost doubled over the last three years](https://www.financedigest.com/what-financial-institutions-will-be-like-in-10-years.html "What Financial Institutions Will Be Like In 10 Years") from £96.1m to £176.2m. Interestingly, since the Brexit vote, [global institutional investor investments](https://www.financedigest.com/impact-com-announces-huge-investment-in-workforce-with-raft-of-new-hires-globally.html "impact.com announces huge investment in workforce with raft of new hires globally") in MarketInvoice have increased 34% compared to investors in the UK, which has remained constant. MarketInvoice has funded over 70,000 invoices [worth more than £1.2 billion](https://www.financedigest.com/rheinmetall-expects-german-ammunition-order-worth-billions-soon-ceo.html "Rheinmetall expects German ammunition order worth billions soon -CEO") (to date) unlocking working capital for businesses across the UK. MarketInvoice effectively supports over 18,700 jobs [across the businesses](https://www.financedigest.com/eliminating-financial-leaks-across-your-business.html "Eliminating financial leaks across your business") it serves, driving UK economic progress. The recent increase in interest from global institutions has come since the [launch of MarketInvoice Pro and mirrors the up-take of the product](https://www.financedigest.com/new-product-launches-to-put-the-marker-pens-market-in-a-good-stead.html "New Product Launches To Put The Marker Pens Market In A Good Stead") by UK businesses. [MarketInvoice Pro is a confidential invoice discounting](https://www.financedigest.com/top-benefits-of-invoice-discounting-for-small-businesses.html "Top Benefits of Invoice Discounting for Small Businesses") facility, launched in February 2017, offering businesses a funding line against their outstanding invoices. This product upgrades the MarketInvoice offer from its long-standing invoice-by-invoice product called Select. Pedro Coelho, Executive Chairman of Banco BNI Europa commented: “In 2015, we put in place a digital strategy to [drive our investments through fintech](https://www.financedigest.com/the-future-of-fintech-startups-driving-innovation-and-investment.html "The Future of Fintech Startups: Driving Innovation and Investment") platforms. This news is testament to how well it has worked for us.” “We are proactively working with fintech businesses globally that prescribe to our vision of providing low-cost, [innovative products](https://www.financedigest.com/product-innovations-and-advancements-in-technology-to-boost-automotive-ignition-system-market-growth.html "Product Innovations and Advancements in Technology to Boost Automotive Ignition System Market Growth") with exceptional customer service. MarketInvoice has consistently delivered these values over the years. The MarketInvoice Pro service is now a further means to [build on our relationship](https://www.financedigest.com/building-stronger-relationships-with-insurance-companies.html "Building Stronger Relationships With Insurance Companies") as it provides a longer-term arrangement.” “It is inevitable that [banks will work more collaboratively with fintech businesses](https://www.financedigest.com/two-speed-economy-in-sweden-central-bank-business-survey-shows.html "Two-speed economy in Sweden, central bank business survey shows"). I am firm believer of this and see much [scope](https://www.financedigest.com/cherry-picker-crane-market-2022-scope-of-current-and-future-industry-2031.html "Cherry Picker Crane Market 2022 | Scope of Current and Future Industry 2031") in the industry.” Anil Stocker, CEO and co-founder of MarketInvoice said: “Institutions have played a significant role in our [growth story and over the past two years](https://www.financedigest.com/the-liquid-chromatographymass-spectroscopy-market-is-estimated-to-witness-stupendous-growth-in-the-years-to-come.html "The Liquid Chromatographymass Spectroscopy Market is estimated to witness stupendous growth in the years to come") have consistently funded almost 60% of the working capital provided to UK businesses via MarketInvoice. This new commitment from BNI is further proof of our ability to provide finance to high [growth businesses](https://www.financedigest.com/euro-zone-business-growth-slowed-in-may-as-factories-struggled-pmi.html "Euro zone business growth slowed in May as factories struggled-PMI") across the country, we’re excited by their support of our mission.” “Banco BNI Europa has shown foresight in adopting a [digital strategy and executing it by working with the European peer-to-peer industry](https://www.financedigest.com/the-digital-voice-achieves-double-hit-on-industry-awards.html "The Digital Voice™ Achieves Double Hit On Industry Awards"). There are strong synergies between us as a fintech platform and BNI as a digital-only bank. We look forward to [building on this relationship as we scale into larger funding lines through our new MI Pro product](https://www.financedigest.com/why-building-new-products-for-a-circular-economy-is-essential-if-we-are-to-preserve-the-earths-finite-resources.html "Why building new products for a circular economy is essential if we are to preserve the Earth’s finite resources"). I’m sure we’ll [see](https://www.financedigest.com/china-equities-weigh-as-em-sees-another-month-of-outflows-iif.html "China, equities weigh as EM sees another month of outflows – IIF") many more examples of this type of collaboration in the coming months.” MarketInvoice’s main strategic ambition is to broaden its [reach to be able to support a wider range of businesses](https://www.financedigest.com/how-to-expand-business-reach-with-event-driven-apis.html "How to expand business reach with event driven APIs"), from start-ups to larger businesses looking to scale up. The company aims to help even more companies get paid faster by financing their invoices, so business owners can save time and focus on running their business. MarketInvoice business highlights (last 12 months): - Funded against invoices worth over £1.2b (to date, since 2011), £2,196 funded every minute to UK businesses in 2016 - Provided [record funding](https://www.financedigest.com/norways-wealth-fund-loses-record-174-billion-in-first-half-of-2022.html "Norway’s wealth fund loses record 4 billion in first half of 2022") to UK businesses in March 2017 (£54.7m) and delivered 60% year-on-year funding growth from £81.1m (Q1 2016) to £129.6m (Q1 2017) - Raised £7.2m (series B) in recent investment round from European venture capital fund Northzone and [private equity](https://www.financedigest.com/private-equity-resilience-leads-to-opportunity.html "Private Equity – Resilience Leads to Opportunity") group MCI Capital - Appointed Giles Andrews, the founding father of [peer-to-peer lending](https://www.financedigest.com/peer-to-peer-lending-how-to-use-p2p-lending-for-loans-and-investments.html "Peer-to-Peer Lending: How to Use P2P Lending for Loans and Investments"), as Chairman in March 2017 --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---