The graph presents the benchmark transaction value of the FinTech invoice factoring platforms sector in the United Kingdom in 2014, and provides a forecast thereof until 2020. The statistic shows the annual transaction value in the market as a share of the referring total market potential in percentage terms. In 2014, the FinTech invoice factoring platforms sector had a share of 0.06 percent. An overview of all Digital Markets can be found here.
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Benchmarked transaction value of the FinTech invoice factoring platforms sector in the United Kingdom (UK) from 2014 to 2020
* Estimate. ** The figures show the annual transaction value in the selected market (market segment, region) as a share of the referring total market potential in percentage terms.
Factoring platforms offer small and medium-sized enterprises (SMEs) and freelancers the possibility of simplifying their billing and accounts receivable management processes through pre-financing or directly funding outstanding receivables. This allows small businesses in particular to have continuous liquidity during everyday operations and reduces the risk of defaults. Since classical factoring solutions are not attractive to providers and customers in many cases, due to effort and cost, FinTech businesses have specialized themselves in SME factoring to offer cost-efficient solutions via automated steps and online marketplaces. Some example providers in this area are Billfront and CoreFund Capital. Factoring services for companies who are not counted as SMEs and business lending platforms are not included.
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Statista (Digital Market Outlook). (September 30, 2015). Benchmarked transaction value of the FinTech invoice factoring platforms sector in the United Kingdom (UK) from 2014 to 2020 [Graph]. In Statista. Retrieved December 13, 2024, from https://www.statista.com/statistics/497571/digital-market-outlook-invoice-factoring-benchmark-transaction-value-uk/
Statista (Digital Market Outlook). "Benchmarked transaction value of the FinTech invoice factoring platforms sector in the United Kingdom (UK) from 2014 to 2020." Chart. September 30, 2015. Statista. Accessed December 13, 2024. https://www.statista.com/statistics/497571/digital-market-outlook-invoice-factoring-benchmark-transaction-value-uk/
Statista (Digital Market Outlook). (2015). Benchmarked transaction value of the FinTech invoice factoring platforms sector in the United Kingdom (UK) from 2014 to 2020. Statista. Statista Inc.. Accessed: December 13, 2024. https://www.statista.com/statistics/497571/digital-market-outlook-invoice-factoring-benchmark-transaction-value-uk/
Statista (Digital Market Outlook). "Benchmarked Transaction Value of The Fintech Invoice Factoring Platforms Sector in The United Kingdom (Uk) from 2014 to 2020." Statista, Statista Inc., 30 Sep 2015, https://www.statista.com/statistics/497571/digital-market-outlook-invoice-factoring-benchmark-transaction-value-uk/
Statista (Digital Market Outlook), Benchmarked transaction value of the FinTech invoice factoring platforms sector in the United Kingdom (UK) from 2014 to 2020 Statista, https://www.statista.com/statistics/497571/digital-market-outlook-invoice-factoring-benchmark-transaction-value-uk/ (last visited December 13, 2024)
Benchmarked transaction value of the FinTech invoice factoring platforms sector in the United Kingdom (UK) from 2014 to 2020 [Graph], Statista (Digital Market Outlook), September 30, 2015. [Online]. Available: https://www.statista.com/statistics/497571/digital-market-outlook-invoice-factoring-benchmark-transaction-value-uk/