Peer-to-peer online invoice finance platform MarketInvoice has appointed former Deutsche Bank trader Neha Mittal as its vice president of finance and strategy.
Mittal left Deutsche Bank in 2012 and founded big data start-up Ambitioni and Laddoo, an instant messaging platform for businesses, before joining the fintech firm.
Gavin Sumner has also been made vice president of sales.
Anil Stocker, chief executive and co-founder of MarketInvoice, said: “Both Neha and Gavin have knowledge and experience of the challenges that lie ahead as we scale up and we are confident they can make a real impact here. These new appointments will strengthen MarketInvoice’s ability to create new products, deliver the best in class customer service, and support businesses across the country.”
MarketInvoice, which announced its best ever quarter for funding to UK businesses last month, recently poached a senior Santander UK manager to oversee its risk team.
Shaun Alexander brings over 30 years of experience at retail and corporate banks.
The flurry of appointments follows a £7.2m investment led by Polish venture capital and private equity firm MCI Capital last year. MarketInvoice has also announced its ambition to double lending to £2bn in 2017.
Businesses seeking to avoid cashflow issues can use MarketInvoice to sell unpaid invoices to investors as a way to counter lengthy payment terms.
In the first quarter of 2017, the finance marketplace funded invoices worth a total £129.6m.
The value of the invoices funded jumped 160 per cent, from £81.1m in the first quarter last year to £129.6m in the first quarter of this year.