Australia’s first peer-to-peer invoice funding platform, The Invoice Market (TIM), has announced it has funded over $75 million in invoices to Australian businesses in its first year of operating.
TIM chief executive Angus Sedgwick said the result is testament to the firm’s commitment over the past 12 months.
“We are delighted with our first 12 months of operations, particularly that we have been able to provide over $75 million of cash flow funding to Australian businesses,” he said.
Mr Sedgwick noted that TIM’s broker partners have benefited “significantly” from this result.
“Furthermore, around 35 per cent of this business was referred by brokers, so [we believe] The Invoice Market has contributed significantly to their income stream as well,” he said.
The Invoice Market provides cash-flow funding for businesses across Australia. The company’s locations include Sydney, Brisbane, Melbourne and Perth.
