Business finance firm MarketInvoice has established a partnership with trade-credit insurance company Euler Hermes, which will provide credit insurance policies to MarketInvoice customers.

Businesses that use invoice finance solutions will now have the assurance that they are protected in the event of a customer becoming insolvent or failing to pay within the agreed terms. A risk prevention tool also monitors a company’s financials, enabling a forward view on debtors that will improve future trade decisions.

Ilya Kondrashov, COO and co-founder of MarketInvoice, commented: “As a FinTech business, we look to partner with like-minded businesses who are competitive, agile and friendly. Euler Hermes is a perfect fit for us.

“The underlying aim of this partnership is to enable companies of all sizes to trade with confidence at home or abroad. This is the joint mission of our businesses and we aim to deliver this for our customers. As Brexit dawns, this partnership arrangement, will provide our customers the confidence to expand sales to new buyers and markets.”

Milo Bogaerts, CEO of Euler Hermes UK and Ireland, added: “We live in uncertain times. Trade, investment and consumer spending are driven by confidence, and uncertainty is the enemy of confidence. Businesses leaders need to plan ahead for how future risks like Brexit might impact them and their supply chains.

“Plus recent high profile corporate failures reinforce the need to be increasingly aware of the risks of late or non-payment for goods and services provided on credit. This is why MarketInvoice is our partner of choice to help businesses trade with confidence.”

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