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Northzone and Paul Forster take £5m stake to drive growth at MarketInvoice

3rd December 2014

Backers of Spotify and Avito, and Co-Founder of Indeed.com invest in UK fintech leader; Northzone to join the MarketInvoice Board.

MarketInvoice has today announced a £5 million investment from Northzone and Paul Forster, Co-Founder and former CEO of Indeed.com. Both Northzone and Paul Forster will take an active role in helping the company scale its operations and Northzone will join the Board.

Jeppe Zink, General Partner at Northzone, said:

“We are excited about partnering with MarketInvoice, who have already established themselves as a leading player in the UK peer-to-peer lending market. Invoice finance is a huge opportunity for disruptive online businesses and we look forward to being part of MarketInvoice’s ongoing success story.”

Paul Forster said:

“Just as Indeed.com has redefined the recruitment industry, MarketInvoice is disrupting business finance with a best-in-class marketplace for working capital. The UK is emerging as a leader in financial technology and MarketInvoice is at the forefront.”

Anil Stocker, Co-Founder and CEO of MarketInvoice, said:

“Whilst we’ve grown significantly over the past two years, we have plans and ambitions to go much further. By bringing Northzone and Paul Forster on board we are in a strong position to achieve our ambitious goals. Their experience in scaling businesses will be invaluable for MarketInvoice.”

MarketInvoice is a leading player in the fast growing peer-to-peer lending market. The online platform enables businesses to sell outstanding invoices direct to investors to raise working capital. Nearly £300m has been traded across the platform, and nearly £200m this year alone.

Northzone is a technology investment fun. The partnership has to date raised seven funds and invested in some 100 technology-enabled companies. The current portfolio includes companies such as Spotify, Avito.ru, Trustpilot, WideSpace and SpaceApe. The company has offices in London, Stockholm, Oslo, Copenhagen and New York. For further information, visit www.northzone.com

Paul Forster co-founded Indeed.com in 2004 and led the company as CEO through rapid growth to a successful exit. Indeed is a giant of the online job search market and was acquired in 2012 by Recruit Co – one of the world’s largest HR services companies. Under Paul’s stewardship Indeed.com grew from start-up to market leader, with over 1000 employees and 140 million monthly unique users today.

For further information, please contact:

Paul Crayston, Head of Communications, MarketInvoice

020 3757 6420 / 07545 378810