Friday 1st August, 2014

Online accounting software company Xero, and European online e-Invoicing solution providers, MarketInvoice have entered a strategic partnership to provide businesses access to funding.

The partnership between MarketInvoice and Xero is set to enable businesses to apply and be approved for funding directly via their accounting software. After the one-off approval process is complete businesses can repeatedly generate almost-instant finance by selling their long-dated invoices directly to investors.

Businesses access the MarketInvoice Xero portal and click ‘apply through Xero’. MarketInvoice will get back to the applicant within 24 hours to let them know if they’ve been approved. Once approved, businesses can access the MarketInvoice platform from Xero and sell selected invoices. Funding is expected to be available within a couple of hours.

Businesses use MarketInvoice to selectively sell their invoices to a network of global investors. MarketInvoice is a Peer to Peer funding solution, accessible to a range of UK businesses.

Earlier this year MarketInvoice joined the Peer-to-Peer Finance Association.

In other news this week, Float, the cash-flow add-on for Xero announced a partnership with The Wow Company for enhanced real-time forecasting.