MatchPlace has introduced MatchPlace IF, its peer-to-peer invoice financing service.

The new service is designed to help SMEs manage their working capital more efficiently by selling their outstanding invoices to investors.

The invoice financing facility allows companies to submit their invoices through the MatchPlace IF platform for verification and receive from MatchPlace IF’s registered investors a sum of up to 85% of the invoice face value.

Benjamin Gedeon, CEO of MatchPlace, said: “Financing a trade receivable is one of the easiest way for companies to acquire working capital.

“From 2011 (£4m) to 2016 (£452m), alternative finance invoice trading experienced a triple digit growth in UK. We funded our first invoice in London last December and we are now proud to fully open our Invoice Funding service to companies.

“We offer investment opportunities for investors looking to diversify their portfolio. After the successful launch of MatchPlace FX, the cross-border payments and foreign exchange service at fair prices in 2017, it is another milestone to help the local economy and companies to develop their business with innovative technology.”

Christophe Monget, CTO of MatchPlace, added: “Artificial intelligence is used in invoice financing with machine learning decision systems to optimise risk and to provide the best financing rates to our customers. We also use the latest Fintech technologies for the security of the payments on the platform.”