MarketFinance secures £30m credit facility for embedded finance push

MarketFinance has secured a £30m credit facility to expand its business-to-business pay later embedded finance offering for small- and medium-sized enterprises (SMEs).

The credit facility has been provided by Viola Credit – an Israel-based technology investment group.

It will enable MarketFinance to provide credit worth up to £240m per year on rolling 45 to 90 day terms.

“We believe embedded finance – seamlessly integrating authentication, multiple payment and pay-later options, and other value-added financial services at checkout – will bring significant benefits for SMEs over the coming years,” said Anil Stocker, chief executive and co-founder at MarketFinance.

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“In addition to receiving payment instantly, businesses tell us that offering more payment and credit options helps them stand out from the competition, and drive increased sales.

“As inflation continues to drive up costs and traditional financial providers struggle to fill the gap, frictionless solutions that help keep businesses moving are more needed than ever.”

MarketFinance has been focused on growing its embedded finance business over the past year. To date, the business lender has made more than £45m available to approximately 2,000 buyers via embedded finance.

Read more: MarketFinance swings into profit as revenues rise 137pc

“We are delighted to continue our partnership with MarketFinance and support the company’s expansion into the growing B2B embedded finance space,” said Ido Vigdor, general partner at Viola Credit.

“The team has a deep understanding of their customers’ needs and has built an impressive suite of technologies to help these businesses move forward. This latest agreement will enable UK-based firms to offer credit to their customers in multiple currencies, helping them grow at home and abroad.”

Read more: Embedded finance market to reach $7trn by 2026