AN AGREEMENT between PricewaterhouseCoopers (PwC) and online debt market MarketInvoice, announced today, plans to give businesses extra borrowing options.
PwC will inform its clients about MarketInvoice’s financing services and the online firm will refer its clients to the PwC My Financepartner team – accountants who specialise in helping early- to mid-stage firms.
MarketInvoice provides an online platform where firms can sell their invoices to investors. The firm then owes the investor, but gains the cash which it can use to pay immediate debts. The investor also receives interest payments.
“Many of our client businesses are not aware of the range of alternative finance options available. Often they believe that traditional financing routes offer the only options,” said Tony Price, a PwC partner.
“Through the advice and expertise of PwC, and the fast, innovative working capital funding available through MarketInvoice, small business can accelerate their growth,” said Anil Stocker, chief executive of MarketInvoice.
So far this year, over £1bn of finance was raised using the kind of peer-to-peer lending that MarketInvoice offers a platform for.
The firm estimates that it will provide about 20 per cent of that figure.